AgResource Wheat Comment and Analysis
US Wheat Prices Correct Despite Rally in World Market: CBOT wheat futures ended 6-8 cents lower. Unlike corn, wheat’s inability to find new rally highs in early trade triggered modest profit-taking. Other wheat-specific news is lacking and drought will continue across Southern and parts of Central Russia into the middle of October. Concern over germination…
AgResource Corn Comment and Analysis
CBOT Corn Extends Advance on Chart-Based Buying: CBOT corn futures made new rally highs on Thursday as the rest of the world digested bullish USDA data. Dec’s ability maintain support above all major moving averages triggered modest additional fund buying. The market is unlikely to sustain any lasting break until the release of NASS’s Oct…
AgResource Soybean Comment and Analysis
Soybean Rally Slows as Stocks Surprise is Absorbed: Soybean futures marked an inside day of trade, consolidating Wednesday’s gains and closed unchanged. The weekly Export Sales report showed another big week for US soybean sales totaling 95 Mil Bu. The cumulative export rate of 172 Mil Bu is 164% of last year and record large,…