AgResource Mid-Day Commentary; CBOT Rallies Sharply to add War Premium; NOAA Extended Range Weather Forecast Warm/Dry for C Plains/W Midwest

War off/war on — Today the war is on. CBOT futures are sharply higher on declining volume with the market adding back the war premium that was subtracted yesterday. May corn futures is back testing resistance at $7.60-7.80 while May soybeans push against $16.80-17.20 resistance. Wheat futures have lagged following yesterday’s limit down close and…

ARC Mid-Day Commentary; Fund Selling Pounds Corn/Wheat on Charts on Hope for a Cease Fire in the Russian War; The Break Produces Importer Interest

Early selling pressure developed as the CBOT rocks back-and-forth between headlines at historically high prices. Market volatility stays extreme with key support in July corn below $7.00 while December KC wheat has support below $10.00. Soybean futures are awaiting fresh demand from China, but fob basis falls has made Brazilian offers cheaper today. May Chicago/KC…

ARC Mid-Day Commentary; Corn Reverses on End User/Importer Pricing as Putin Says Peace Talks Going Poorly; NOPA February Daily Crush Rate Above January

Early CBOT selling was absorbed by end user and importer pricing. Cash basis levels are firm around the world with Brazilian corn setting a new contract  high while EU corn values keep rising amid the fear of feed shortages. The Argentine corn harvest is 9% completed and early yields cited as disappointing. Most of the…

AgResource Mid-Day Commentary; Russia to Ban Grain Exports Thru June 30th; Brazilian Corn at new Record High; US Weekly Export Totals Lack Inspiration

CBOT values are broadly mixed at midday with corn/soy futures trading lower while wheat futures rally on the news that Russia is planning to ban all grain exports from March 15th into June 30th. The Russian headline sparked a US and world wheat rally as exporters that sold wheat from Russia on an optional origin…