CBOT trade is mixed at midday with corn/soy trading either side of unchanged while wheat prices sag on active wheat/corn spread unwinding. Its Tuesday in a full week of futures trade is ahead. The charts show that soymeal, soybeans, and corn futures are overbought. Amid overbought chart conditions, futures either consolidate or decline (or a…
Highlight: Redeveloping Northwest Russia chill. Uncertain as to whether that cold can back into Europe. Charts of the day: The 5-day Europe forecast. Discussion: This week has turned much warmer across Europe and the bitter cold in Western Russia last week which extended to Eastern Europe has modified. A connection to the subtropics energizes a…
Frigid weather strikes northern Great Plains.
Summary: Brazil exported 664,000 MT of corn. Argentine exports were 525,000 MT. Shipments from Ukraine are estimated to be 1.04 MMT. US corn exports are estimated to be 719,000 MT. Brazil’s export “commitments” are 20.41 MMT vs 34.22 MMT last year. Commitments have accounted for 110.3% of projected total annual exports. Ship lineup data indicates that…
AgResource Farm Marketing Advice for Tuesday: 1/ Wheat Producers: Sell 25% of the 2021 wheat crop if March Chi wheat reaches $8.80. This would push 2021 cash wheat sales to 75%. 6:30 AM CT CBT Prices: Jan soybeans are up 11.50 cents at $13.74, March corn is up 1.75 cents at $6.165 and March Chi…
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