AgResource Corn Comment and Analysis
CBOT Corn Finds Buying at 20-Day Moving Average; Weekly Ethanol Data Lends Support: Dec CBOT corn remains stuck between its 20- and 50-day moving averages and sentiment through the remainder of the week will center on weekly US export sales. ARC’s work suggests sales into late winter must average 40+ Mil Bu to beat the…
AgResource Wheat Comment and Analysis
World Wheat Markets End Sharply Higher; Firm Indian Market, S Hemisphere Weather Cited: Wheat futures in the US and Europe rallied on Tuesday amid fund short covering. The bulk of droughts in Australia has been digested but moisture deficits worsen in Australia over the next two weeks. Full maturity won’t be reached in southern parts…
Brazilian Corn Market Update
The drop in Brazilian corn prices was dramatic, but the market there is adding premium as supply & demand gets balanced via (by far) record export demand. Brazil’s interior cash corn price index continues to flirt with $5.00/Bu. Brazil’s spot corn future on Wednesday settled at $5.07/Bu, vs. last week’s high of $5.15 but $.50/Bu…