AgResource Farm Marketing Advice for Thursday: 1/ No new advice. America is back to its love of the US automobile. The pandemic closed schools, restaurants, businesses, sporting, and religious events with gas consumption rates plummeting 45%. Today, the expanding US vaccination rate has provided confidence for Americans to return to the highways. The attached graphic…
AgResource Farm Marketing Advice for Wednesday: 1/ No new advice. The latest forecast from the World Weather Bureau cautions that dry soils will promote a high-pressure Ridge across the SW US. The Ridge will promote heat for the Plains and most of the Midwest. And the forecast offers a patchwork of dry/wet soils that offers…
AgResource Farm Marketing Advice for Tuesday: 1/ No new advice. Cash corn prices are record high in China, Brazil, and portions of Russia. The Chinese corn market did not budge with the $1.00 decline in US corn values. The lack Chinese corn price fall and China’s record large purchase pace of US corn is telling.…
AgResource Farm Marketing Advice for Monday: 1/ No new advice. Managed fund net length in corn, CBT wheat and soy on Tuesday totaled 507,000 contracts. This is down 51,000 contracts from the prior week as fund liquidation began last Friday. Since Tuesday, AgResource estimates that funds have sold 13,000 contracts of wheat, 24,000 contracts of…
AgResource Farm Marketing Advice for Friday: 1/ No new advice. Thursday’s CBT meltdown was partially based on traders/investors worrying that the Desoto I-40 Memphis Bridge would stay closed for an extended period. The bridge’s closure has halted barge traffic along the Mississippi River – a key passageway for US grain to world exporters. It appears…
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