AgResource Farm Marketing Advice for Monday: 1/ No new advice. CBT futures are sharply lower at midday, but they have recovered some of their early losses on end user pricing and short covering. The expectation that US corn/soybean crop condition ratings will fall 3-5% and spring wheat 1-2% in the GD/EX category this afternoon has…
Summary: Brazil shipped 1.99 MMT of soybeans this past week. Argentine soybean exports were 178,000 MT. US export inspections are estimated to be 250,000 MT. The ship lineup indicates that 12.1 MMT could be shipped in June. In the June WASDE, the USDA raised its projection for Brazil’s local marketing year exports by 650,000 MT…
Charts of the day: Medium-range >100F risk areas. Discussion: The medium-range forecast indicates widespread risk of >100f in the West and Central U.S. according to the ECM ENS. Medium-range 6-10 Day Forecast Valid June 19-23, 2021 Medium-range 11-15 Day Forecast Valid June 24-28, 2021 Discussion: The ECM ENS is used this morning to project the…
AgResource Farm Marketing Advice for Monday: 1/ No new advice. 6:30 AM CT CBT Prices: July soybeans are down 26.00 cents at $14.82, July corn is down 17.0 cents at $6.675 and July Chi wheat is down 18.75 cents at $6.62. AgResource Morning Grain/Soy Comment & Analysis: Good Morning! CBT futures fell to sharp losses…
Highlight: Last week’s Great Plains rainfall review, soil moisture trend and the incoming heat. The outlook trends wetter but where rains occur uncertain. Discussion: Last week’s rainfall across North Dakota was “significant” and helped to ease the drought “slightly to moderately”. Most beneficial was the 2.1 to 3.3 in. observed in the northwest corner to…
