AgResource Midday Commentary; Early Rally Fades as China Demand for US Corn off the PNW cannot be Confirmed; GFS Weather Forecast Drier for NC Brazil

CBOT grains are higher at midday. Short covering and selective speculative buying rallied CBOT futures ahead of March 1st notice day on Thursday. ARC suspects that short covering could lift CBOT valuations into Wednesday with actual delivery intentions than determining if a correction is needed later in the week. A seasonal low has likely been…

AgResource Midday Commentary: CBOT Recovers as Farmers Roll Basis Sales Forward; China Demand for Ukraine Corn and Brazilian Soybeans; GFS Drier for North Central Brazil

CBOT grain markets are mixed at midday. US wheat futures recovered from a lower opening, but corn/soybeans are holding in the red on fresh speculative selling and ongoing farm basis contract rolling/liquidation. 1st notice day against March futures is Thursday, and most elevators are demanding that US farmers have their cash March basis contracts cleaned…

AgResource Midday Commentary; March Option Expiration Hedge Selling Adds Pressure at Midday; US weekly Export Sales Disappoints; Chinese Soy Crush Margins Strongly Rise

New Advice for Livestock Feeders or those Producers Wanting to Replace cash corn sales:  AgResource Farm Marketing Advice for Friday: 1/ Livestock Feeders or those wanting to replace cash corn sales; Buy September $4.60 calls and sell $4.00 puts at a cost of 8.50 cents or less. For livestock producers, we would cover 50% of…

AgResource Midday Commentary

CBOT grain markets are mixed at midday. Chicago wheat rallied smartly following the 8:30 CT reopening with March Chicago reaching psychological resistance at $6.00. The sharp rally in wheat pulled corn into the green with soybeans/soymeal sagging on weakening Brazilian paper trade with March Paranagua said to be trading at -$.80/Bu vs the CBOT. ARC…

AgResource Midday Commentary; CBOT Corn Sinks to New Low at $4.11 March; Brazilian Soy Crop Estimates Edge Lower; GFS Midday Forecast Like Overnight Run

CBOT grain markets are lower at midday with speculative selling felt early in the 8:30 AM CT CBOT reopening in corn, soyoil and soybeans. Speculators appear to be less willing to pressure wheat until more is known about new US economic sanctions that will be placed on Russia on Friday by the Biden Administration. March…