AgResource Farm Marketing Advice for Monday: 1/ No new advice. Managed fund net length across major CBOT markets as of Tuesday was 678,000 contracts – down 21,000 contracts from the previous week. New investment into raw materials has instead been weighted towards index money flow, with index fund length at the CBOT reaching a new…
Central US Forecast Trends Drier in Northwest Midwest: The GFS model is drier across the Dakotas and Northwest Midwest in the 11-15 day period. The GFS’s change in two-week precip accumulation is attached. This places the GFS is better alignment with the EU and Canadian model outlooks — and is worrisome with respect to drought…
Gulf Soybeans at Hefty Premium to South America; Global Soybeans Cheap in World Oilseed Marketplace: The 20/21 US soybean export campaign has for the most part ended. South American fob offers on Friday are quoted some $50-70 per ton below spot Gulf beans. However, November soybeans have incredible value amid rising forward South American fob…
Canadian March wheat and canola stocks fell slightly below market expectations. and validates the need for enlarged production in 2021 if balance sheets are to loosen. Concern over drought across the Canadian Prairies remains elevated as extended range forecasts have trended drier. Additionally, Stats Can data also reiterate that the old crop grain and oilseed…
Soybeans Make Contract Highs on New Crop Leadership: The week ended with another rally that left soybean prices at new contract highs. Soyoil also scored new highs, while old crop soybean meal marked solid gains and closed at the highest levels since mid January. Preliminary trade data for April showed that China imported 7.5 million…
