ARC Mid-Day Commentary; Wheat Plunges on Spec Selling as Corn Soars on Export Demand; Rumors of EU Demand for US Soymeal as EU Nat Gas Prices Soar

Wheat values are sharply lower while corn/soy futures try to hang onto a moderate rally effort. The volume of CBOT trade is in decline (from prior days) with trader interest watching whether wheat can close limit down? Wheat is on a string of limit days amid extreme market volatility.  May Chi wheat was down over…

AgResource Mid-Day Commentary; USDA March Report Slightly Bearish; CBOT Breaks with Crude Oil; Look at New Crop Corn/Soybeans/Wheat for Value

The USDA March Report was neutral to slightly bearish as WASDE cut Brazilian and Argentine soy/corn crops, and edged US 2021/22 US corn/soybean end stocks lower – but not to the degree that private analysts were hoping for. USDA did not adjust US export demand amid the Russian war against Ukraine as evidenced with the…

AgResource Mid-Day Commentary; French News Agency Reports that Ukraine No Longer Desires to be NATO Member-Confirmation Awaited; USDA Report Wednesday

CBOT values are mixed at midday with wheat/corn and wheat/soybean spreads enduring profit taking following a series of limit up days in Chicago May wheat futures. The short pin position of May Chicago wheat has been lifted, which produced a correction in wheat, while soybeans/corn are rise on demand considerations and tightening cash supplies. US…

AgResource Mid-Day Commentary; Chicago Wheat Stays Limit Bid; US Corn Export Inspections Surge; CONAB Out Thursday; Russian War Worry-Could be Extended

CBOT values are mixed at midday with Chicago wheat limit up for the 6th day (expanded limit $.85/Bu) while corn/soy trade either side of unchanged. Soyoil sold off along with crude oil while soybeans have rallied on tightening cash supplies and ongoing Chinese demand. China is back bidding for US and Brazilian soybeans for June/July…

AgResource Mid-Day Commentary: Extreme CBOT Volatility as Wheat Starts to Trade; Corn Falls $.60 from its High; Chicago May Wheat Still Locked Limit

CBOT values are sharply mixed at midday. Corn has traded $8.00 for the first time since 2012 while wheat futures scored new highs on a synthetic option basis. Rumors are widespread of firms struggling to meet margin calls as Chi wheat futures have rallied an incredible $3.50/Bu (to $12.09 May). Last Friday, wheat closed limit…