AgResource Mid-Day Commentary; Midday Forecast is Wetter for the 2nd Week in Parana/MGDS; Midwest Cash Moving in Soybeans; Deral Crop Ratings Fall

CBOT futures have rallied into the midday hour on threatening South American weather and the diminished concern regarding the omicron virus – and that the Biden Administration will not shut down the economy. Soybean futures have pushed to new rally highs with March futures reaching $13.17 while corn/wheat follow. The corn market should be the…

Mid-Day Commentary; New RMA Data Confirms Smaller US Winter Wheat Seeding; Hot/Dry Weather for S Brazil/Argentina into 2022; Adding Risk Premium Ahead of Christmas

CBOT futures are mixed at midday with soybeans/soymeal/KC wheat posting  gains on parched Southern Brazilian and Argentine weather forecasts while corn/soyoil sag on macro financial market considerations. The DOW and a host of other financial markets are under acute pressure on the fear that the fast-spreading omicron virus will negatively impact US/world GDP rates. The…

AgResource Mid-Day Commentary; March Corn Rallies to Highest Price Since July; Russia Wheat Export Quota to Drop 1 MMTs to 8 MMTs; S Brazilian/Argy Forecast Dry

 CBOT futures are higher at midday with the exception being meal/oil spreading on the pre hedge index fund rebalance that is pushing soyoil values downwards. The volume of trade has been active with buy stops triggered as March corn futures rallied above its November high at $5.9675. Resting orders are lacking and exacerbating corn/soy wheat…

AgResource Mid-Day Commentary; India Secures 20,000 MTs of US soyoil; Combined FAS Export Sales Largest of the Year; Lack of Cash Related Selling Above Market

CBOT futures are higher at midday with corn, soybeans and wheat pushing upwards on new speculative buying and concerning South American weather. The sale of 20,000 MTs of US soyoil to India was a surprise. The sale helped confirm that US soyoil had become too cheap relative to other oils. The US cannot afford to…

ARC Mid-Day Commentary; NOPA Report Surprises on Large November Soyoil Demand; Midday S Brazil/Argy Forecast Hot/Dry into January; Wheat Falls on Chart Selling

CBOT futures are lower at midday with the sinking of US wheat futures helping to pull corn off a 5-month high. Hot/dry Southern Brazilian/Argentine weather underpinned corn/soybean futures in early day trade, but energy/stock values declined ahead of an expected policy announcement of a more hawkish US Central Bank. The US Fed is expected to…