Charts of the day: GFS/ECM Ensemble temperature forecast bias past 30 days. Discussion: During April, temperature forecast bias was quite warm by the GFS ENS across the West-central and North-central U.S. (and into Canada). The ECM ENS does not have that warm bias for central North America. However, ECM ENS has a cool bias for…
AgResource Farm Marketing Advice for Thursday: 1/ No new advice. CBT grain and soy futures are mixed to weaker at midday as the leadership on the May futures contracts fades. The volume has subsided from recent activity with most traders awaiting to see whether any cash deliveries will be posted against May futures. Tightening US…
Summary: As of Apr 29, China’s “spot” soybean crushing margin is -121 Yuan/MT, down 83 Yuan from a week ago. The “forward” margin is -272 yuan/MT, down 92 Yuan d from a week ago. The forward margin is also 245 Yuan below what it was a year ago. Domestic soyoil’s price was down 2.6% in the…
AgResource Farm Marketing Advice for Thursday:1/ No new advice. 6:30 AM CT CBT Prices: July soybeans are up 7.75 cents at $15.215, July corn is up 3.00 cents at $6.47 while July Chi wheat is up 4.00 cents at $7.265. AgResource Morning Grain/Soy Comment & Analysis: Good Morning! CBOT futures started lower following Wednesday’s rally…
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