AgResource Mid-Day Commentary; Wheat Price Drops on Chart Selling and Corn/Wheat Spread Unwinding; KC Wheat Nears $7.75 Support; Soyoil to New Rally Highs
CBOT futures are mixed at midday with parched Argentine/S Brazilian weather, the index fund rebalance and USDA January Crop Report all in focus. The CBOT has rallied sharply in recent weeks and traders are trying to decide how much weather premium is enough in the summer row crop futures? Crop size estimates are in decline…