AgResource Mid-Day Commentary; Crude Surges; GFS Trends Wetter in Argentina; Wheat Importer Demand Returns

AgResource Farm Marketing Advice for Tuesday: 1/ Wheat Producers: Sell 25% of 2021 wheat crop if March Chi wheat reaches $8.80.                                CBOT ag markets are higher at midday in thin volume as the trade debates CONAB’s first round of cuts to Brazilian corn & soy production against the midday GFS’s wetter 6-15 day forecast…

AgResource Mid-Day Commentary: Markets Extract Weather Premium Ahead of South Am Pattern Shift; Duration of Arg Rain Critical

AgResource Farm Marketing Advice for Monday: 1/ Wheat Producers: Sell 25% of 2021 wheat crop if March Chi wheat reaches $8.80.                                CBOT ag markets are mixed at midday, with weather premium being extracted from corn and soy while long row crop/short wheat spreads are unwound. The midday GFS keeps intact needed rainfall across Northern…

Mid-Day Commentary; Index Funds Start Rebalance 1 Day Early? Soymeal Spreading/Purchases Large; Midday South American Forecast Farther South with Rain in Argy

AgResource Farm Marketing Advice for Friday: 1/ Wheat Producers: Sell 25% of 2021 wheat crop if March Chi wheat reaches $8.80.   Filled 2/ Soybean Producers: Sell 10% of the 2021 soybean crop at $13.85 basis March soybean futures. This would push sales to 50% completed ahead of the USDA Crop Report on January. ARC is…

AgResource Mid-Day Commentary; Funds Sell Wheat to Have Something Short Against Corn/Soy; Midday SA Forecast Threatening

Hawkish US economic statements from the US Central Bank have pressured CBOT futures at midday as fund flows are to the sell side of the ledger. Threatening South American weather has been cast aside with traders worried that rising US interest rates could end the reflation trade? ARC doubts that the reflation trade has ended…

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…