CBOT corn, soybean and wheat futures are mixed at midday with volume thinning. Marco economic selling occurred after 8:30 AM CT CBOT reopening with AI and algo trading systems adding to their net shorts. Soyoil has bucked the bearish trend on oil share spreading and firming cash soyoil basis bids. End user pricing in cash…
CBOT grains are higher at midday with soybeans/soymeal pacing the rally. Corn and wheat futures have been pulled from their opening losses on short covering in extremely slow volume. It does not take much volume to push the markets around with South America and SE Asia on holiday. Fresh news is limited with the bears…
CBOT grain futures have traded both sides of unchanged with the grains rising while soy futures sag. The selling has come in soyoil as March futures tested its 50 day moving average. The early day rally failed with price in retreat on algo chart related selling. The soyoil price trend remains down and although the…
AgResource Farm Marketing Advice for Thursday: 1/ Soybean Producers: Sell 20% of your ‘23 soybean crop at $14.19 March. 2/ Wheat Producers: Sell 25% of the ‘23 wheat crop 25% at $6.59 basis March Chicago. The USDA February Crop Report was slightly negative. WASDE reduced their estimate of the Brazilian 2024 soybean crop by 1.0…
Mixed are CBOT ag markets at midday with corn/soybeans lower while the wheat market bounces. A bearish February USDA report is being built into price with needed showers to fall across Argentina crop areas in the next week. The Argy rain will help stabilize their corn/soybean crops following just over 3 weeks of acute dryness…
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