CBT ag futures have traded both sides in reduced volume from recent daily trading sessions. Corn and soybeans are the upside leaders while wheat follows. Managed money was a buyer following the 8:30 CT CBOT reopening. The announcement of the Russian floating weekly export tax came as no surprise which was digested in Thursday’s rally.…
Summary: China’s “spot” soybean crushing margin is 452 Yuan/MT The “forward” margin is 453 yuan/MT. The near-record forward margin is attributed to low new-crop Brazilian FOB prices and strong forward cash prices offered for soymeal and soyoil. Soyoil’s price rose 0.3% but is off from the 11-year high set a few weeks ago. Domestic soymeal…
Ukraine’s corn harvest advanced 13% this past week with 73% of the corn area combined. Ukraine’s cumulative average corn yields nearly matches the record high (for this stage in the harvest). The cumulative average yield is 7.05 MT/HA (see red line in chart below). That is well above last year’s 4.91 MT/HA (see black line).…
AgResource Farm Marketing Advice for Friday: 1/ Soybean Producers: Sell 20% of the 2021 soybean crop at $12.72 basis March soybean futures. 6:30 CT CBT Prices: January soybeans are unchanged at $12.215, Dec corn is down 2.00 cents at $5.675 with Dec Chi wheat down 2.50 cents at $8.10. AgResource Morning Grain/Soy Comment & Analysis:…
AgResource Farm Marketing Fills for Thursday: 1/ Corn Producers: Sold 20% of the 2021 corn crop at $5.84 basis March corn futures. This pushed 2021 sales to 35%. AgResource Farm Marketing Advice for Friday: 1/ Soybean Producers: Sell 20% of the 2021 soybean crop at $12.72 basis March soybean futures. Fundamentally, its difficult to be…
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