AgResource Midday Commentary; CBOT Recovers on Crude Oil Recovery; Debate on Midwest Weather Suggests Yield Ding on Heat/Dryness; Russia Restricts Ukraine Black Sea Grain Flow

CBOT futures have traded both sides of unchanged with early Chinese pricing of soybeans helping to support a better than expected 8:30 AM CT opening. Fund short covering was noted on reopening on oversold technical conditions and the $1.75 bounce in the crude oil market. The macroeconomics of the Chinese and world economy are the…

AgResource Midday Commentary; CBOT Corn, Soybean and Wheat Futures Sag on the Hope for a US Weather Pattern Change in Mid June.

Bearish demand fears and hope for Midwest rain in the week 3 Central US weather forecast (CFSv2) has punished CBOT values. Corn, soybean, and wheat futures are all posting sharp losses with November soybeans falling to new low for the spring decline at $11.5725. July Chi wheat also posted a new spring low at $5.8875.…

ARC Midday Commentary; CBOT Higher On the Addition of Weather Premium to Price; Midday GFS Model Delayed – No Real Change in the Pattern Next 10 Days; Midwest Cash Corn Bids Strong; CA Proposition 12

AgResource Farm Marketing Advice for Friday: 1/ No New Advice. AgResource will release our weekend wire this PM ahead of the US Holiday. CBOT Ag markets are higher at midday on the hope that President Biden and the US House can cobble together a 2-year Debt Ceiling Pact amid threatening Midwest/Delta weather forecasts. The CBOT…

AgResource Midday Commentary; Wheat Falls on Old Crop Stocks and Lower Paris Futures; Corn Adds Weather Premium as Soybeans Chop; Midday GFS Wetter for the W Midwest Late Next Week

Adding weather premium to CBOT summer row crop values is the theme of the morning ahead of a long US holiday weekend. Corn/soybean futures are higher while wheat futures sag in response to weaker EU/Russian price offers. The world wheat market is trying to offload large old crop stocks (Russia/EU) while also transitioning to the…