AgResource Weekly Newsletter, Oct 4
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Cool East/warm West and dry U.S. pattern ahead.
AgResource Farm Marketing Advice for Wednesday: 1/ Corn Producers: Sell 20% of the estimated 2022 corn crop at $7.05 and 20% at $7.15 basis December corn futures. If filled, these would push 2022 sales to 60%. 2/ Soybean Producers: Sell another 20% of the 2022 soybean crop at $15.15 basis January soybean futures. The Job…
The afternoon EU weather model held a similar outlook as the GFS, with limited rainfall projected across the Central US into early next week. However, the 6-10 day forecast shows significant rainfall stretching from Eastern Texas, up through the Southern Indiana and into Eastern Ohio. Harvest progress across Arkansas, Missouri, and Illinois will also be…
Central Illinois soybean oil basis traded at record seasonal highs for all of last year and has started the 2022/23 crop marketing year off at another record. Central Illinois soybean oil this week has been quoted at 7.5 cents/Lb over Chicago. This is under the summer highs of 9-10 cents, but still well above last…
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