AgResource Weekly Newsletter, Oct 5
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Corn Sets Back in Range-Bound Trade: Corn finished 3-4 cents lower in a dull trading session. The volume of trade fell along with the price. Cash corn markets in the Eastern Midwest plunged following hurricane Ida and are still trying to find their footing during harvest. Barge freight soared following the hurricane, and the higher…
Soybeans Rally on Soaring Vegoil Markets: Soybeans slipped to fresh lows in the overnight trade and then rallied 14 cents on Tuesday. Soybean oil led the CBT soy complex higher with December gaining 2.3 cents/Lb and pushing back above major moving averages. Strength in soyoil developed as Malaysian palm oil futures pushed to historic highs…
Brazilian Rainfall Chances Improving Looking into Mid October; Argentina Stays Dry Where Corn Seeding Has Slowed: Forecast models are in excellent agreement that a deepening decline in soil moisture will persist across Argentina. The attached graphic reflects rain totals as a percent of normal from September 15th through October 15th (including the coming 10-day forecast).…
AgResource Farm Marketing Advice for Wednesday: 1/ No new advice. The Parana River is the main artery for Argentine grain exports but is now in its second consecutive year of historic low depths. The chart shows the seasonal weekly average depth measurements at the key upriver city of Rosario. The history for the chart goes…
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