AgResource Mid-Day Commentary; Market Volatility Ramps Up as Funds Sell Grains/Buy Soybeans; US Ethanol Stocks Rise for 5th Week; Argy Weather Concern is High

CBOT futures opened sharply higher but a wave of profit taking pulling values off the highs by mid-morning. However, with US and South American soy crush margins deeply in the green (US soy crush margin estimated at $1.85/Bu), there is no indication of demand rationing. The CBOT needed a rest and could not keep rising…

AgResource Mid-Day Commentary; Dramatic Rally in CBOT Soy as Brazilian Export Premiums Soar; Warm/Dry Weather Threatens Argentine Crop Yield Potential

CBOT futures are sharply higher at midday as new investment funds flow into corn, soybeans, and wheat in a new month. March soybeans have rallied to a new contract high at $15.39/Bu, March soymeal has scored a new contract high at $437/ton while March soyoil tests Monday’s contract high at 66.77 cents. The next upside…

AgResource Mid-Day Commentary: Grains Correct on Chart-Based Selling; Soybeans Add Premium as Brazilian Crop Estimates Continue Slide; Heat Returns to N Argentina/Paraguay

AgResource Farm Marketing Advice for Monday: 1/ Wheat Producers: Sell 25% of 2021 wheat crop if March Chi wheat reaches $8.80.                                CBOT futures are mixed at midday with soybeans/soymeal higher while corn, wheat and soyoil futures correct recent gains. The break this AM is corrective in nature following the push to new contract highs…

AgResource Mid-Day Commentary; New Contract Highs in Soybeans/Soyoil as Demand Rationing Need Rises on Smaller SA Crop Potential; GASC Wheat Purchase News Awaited

CBOT futures are sharply higher at midday with corn, soyoil and soybean futures posting new contract highs. News that China continues to secure old and new crop soybeans out of the US reaffirms South American crop losses and the need for acute demand rationing. If South America has lost 24-28 MMTs (880-1,025 Mil Bu) of…