AgResource Farm Marketing Fills for Wednesday: 1/ Corn Producers: Exited 20% of 2021 corn hedges at $4.055 basis December ’21 futures for a 4.00 cent gain. For the remaining 30% of the estimated 2021 corn crop sales, sold May $4.00 corn puts at $.13 to raise the selling price on the collection of premium. AgResource…
Rainfall Across Central Brazil Less Certain in Mid-December; Soaking Rain Needed Next 30 Days: The forecasting models have trended drier in Mato Grosso and across far Northeastern Brazilian crop areas. The two-week outlook remains worrisome as previous climate models in late November called for ongoing below normal rainfall across Mato Grosso. This forecast appears to…
World Cash Wheat Market Pauses Near 2018’s High: EU and Black Sea fob wheat prices are unchanged at $255-260/MT for the last three weeks. This matches the high posted in 2018, when drought reduced exportable supplies considerably from the previous year. Exporter stocks/use is tight enough to support the global cash wheat market on breaks.…
Soybean planting progress in Argentina has been delayed by limited rainfall and dry soil conditions. Last week, the Buenos Aires Exchange estimated that 39% of the national soybean crop had been planted, unchanged from a year ago. Last year’s crop was one of the latest planted crops in recent history, and this year is going…
Soybeans Close Well Off the Lows on China Demand Rumors: Fund liquidation had CBOT soybean futures sharply lower in overnight trade. Rumors of Chinese interest for US soybeans in old and new crop had the market above the lows by the close. China has started buying US new crop Gulf soybeans today. Argentina crushed 3.1…
