Category Archives: Midday Commentary

AgResource Midday Commentary; CBOT Soybeans Sink on Sell the Fact Soymeal Selling; Midday GFS Forecast Slightly Drier for Argentina/S Brazil; ARC Doubts China Rumors for French Wheat

Midday CBOT grains are mixed at midday with wheat/soyoil futures rising while corn/soybeans/soymeal futures sag. Paris wheat futures bounced from long term support at $207.50 amid rumors that China was asking for French CIF offers for March/April. Note that March Paris wheat futures has traded a massive 42,000 contracts so far today. The volume and…

AgResource Midday Commentary; CBOT Consolidates Early Losses; Midday GFS Drier for Argentina/Southern Brazil; US Ethanol Production Tries to Recover

Midday CBOT grains are slightly lower in thinning trade heading into the end of the month. Tuesday’s reversal rally is being noted along with the crowded short position of managed money as supporting the market on breaks. However, with crude oil futures lower and China’s economy sputtering, few fund managers have any desire to chase…

AgResource Midday Commentary; CBOT Reverses as Traders Ponder South American Crop Sizes; GFS Forecast drier in the 15 Day Period; Key Soy Crush Data Out Wednesday/Thursday

Midday CBOT grains are higher with buying noted from the 8:30 AM CT reopening.  A turnaround Tuesday is forming with traders suggesting that the IMF’s suggestion of a stronger Q2 world economic outlook is helpful for raw material markets. Energy futures have rallied all morning with April crude targeting resistance at $78-80.00 amid rising Mideast…

AgResource Midday Commentary; CBOT Falls Hard on New Managed Money Selling; Cash Brazilian Basis Sag on the Advancing Soybean Harvest: GFS Midday Slight Drier for Argentina

CBOT grains are weaker at midday with soybeans, soyoil and soymeal forging new lows for their respective declines. Soymeal has been able to recover on active oil share spread unwinding while corn/wheat futures are just off their mid-morning lows. Worry about China’s real estate sector and future consumptive demand along with the ongoing decline in…

AgResource Midday Commentary: CBOT Weak at Midday; Exporters Sell Soymeal to Unknown; Other Bullish News Lacking as Int’l Market Shed Premium

AgResource Farm Marketing Advice for Friday: 1/ Soybean Producers: Sell 20% of your ‘23 soybean crop at $14.19 March. 2/ Wheat Producers: Sell 25% of the ‘23 wheat crop 25% at $6.59 basis March Chicago. CBOT grains are weaker at midday, with day’s break paced by wheat following China’s approval of Argentine origin as an…