AgResource Farm Marketing Advice for Friday: 1/ Wheat Producers: Sell 25% of the 2021 wheat crop if March Chi wheat reaches $8.80. This would push 2021 cash wheat sales to 75%. CBOT futures are mixed at midday with corn/soyoil futures lower while soybeans, soymeal and wheat are higher. The volume of trade has been well…
The USDA December Crop Report was broadly neutral with WASDE deciding to wait until January to make any hard statistical decisions. WASDE held US 2021/22 corn & soybean end stocks steady at 1,493 Mil and 340 Mil Bu, respectfully. WADSE cut 2021/22 US wheat exports by 20 Mil Bu (as expected) and imports by 5…
CBOT futures endured early selling pressure on speculative liquidation prior to the USDA December Report tomorrow. EPA biofuel mandate headlines produced active early selling in soyoil which caused early weakness in soybeans. In fact, March soyoil futures fell below its 200-day moving average for the 1st time in a year at $55.77. The breaking of…
CBT ag markets continue to chop, with grains steady/higher and old crop soy futures down 10-14 cents at midday. Soybeans are sagging as rumors out of the Biden Administration suggesting that long awaited biofuel mandates will be released later today. The rumors have new mandates not making the US biofuel industry happy. Potential bad biodiesel…
The pending USDA December report and the expectation that it will be slightly bearish for soy/wheat has caused the CBOT to give back some of Friday’s gain. Midday volume has slackened following active early day managed money selling in corn, wheat, and soymeal futures. ARC looks for a mid-range CBOT close today as bullish or…
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