AgResource Farm Marketing Advice
AgResource Farm Marketing Fills for Wednesday: 1/ Wheat Producers: Sold 25% of the 2021 wheat crop at $7.98 basis December wheat futures. This pushed 2021 sales to 50%. AgResource Farm Marketing Advice for Thursday: 1/ Corn Producers: Sell 20% of 2021 corn production at $5.84 basis March corn futures. 2/ Soybean Producers: Sell 20% of…
South American Weather Pattern Discussion
Additional Rain Impacts Argentina; Extended Range Forecast Needs Monitoring: South American growing conditions will stay broadly favorable into the latter part of November. Near daily showers will be ongoing in Central & Northern Brazil. Additional rainfall of 1-2” will be spread across the majority of Argentine crop areas into the weekend. The attached graphic shows…
AgResource Global Wheat Market Discussion
Aussie Wheat Futures Rally Sharply; Short-and Long-Term Weather Forecast Adds Rain: Spot wheat in Eastern Australia settled at $273/MT, up $12 from last week and up $22 from September’s low. AgResource’s bet is that Australian wheat futures and cash prices have scored their seasonal lows. Aussie exports will be maximized beginning in December, but there’s…