Early selling uncovered consumptive buying in corn/soyoil which has rallied CBT values into the midday hour. Funds appear to be better buyers as chart patterns slowly start to turn to the upside. Wheat has been the upside leader amid rumors of Chinese buying of US wheat (told 1-3 cargoes) while US farmers have not been…
Highlight: Important tropical events could affect U.S. in early October. Fig. 1: ECMWF 240-hour forecast of two significant tropical cyclones in the North Atlantic basin tracking westward. Fig. 2: GFS 348-hour forecast of a significant eastern Gulf of Mexico tropical cyclone. Fig. 3: Morning weather satellite view of the North Atlantic basin. Discussion: Due to…
Highlight: Warm anchor dropped on Central U.S. Charts of the day: CFS V2/October & November. Discussion: Latest NCEP CFS V2 temperature anomaly forecasts yield more warmth for October but feeling like late autumn in the East for November. Medium-range 6-10 Day Forecast Valid September 28-October 2, 2021 Medium-range 11-15 Day Forecast Valid October 3-7, 2021…
AgResource Farm Marketing Advice for Thursday:1/ No new advice. 6:30 CT CBT Prices: Nov soybeans are up 4.25 cents at $12.87, Dec corn is down 2.00 cents at $5.235 with December Chi wheat up 5.00 cents at $7.1075. AgResource Morning Grain/Soy Comment & Analysis: Good Morning! CBOT values are higher as world equity markets recover…
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