Category Archives: Midday Commentary

AgResource Mid-Day Commentary; Crude Oil Futures Plummet on Coordinated Release of Strategic Reserves; Wheat Rallies on E Aussie Wet Weather; Corn/Soy Mixed

CBOT futures opened lower, but quickly uncovered investor demand based on strong ethanol/soybean crush margins. Soybeans and wheat rallied while corn futures bounced off their overnight lows. Sinking crude oil futures has capped the rally, but the tone of the CBT remains bullish.  Investment funds have a sizeable amount of capital to place in the commodity…

AgResource Mid-Day Commentary; Market Trades Both Sides on EPA Announcement Concern over 2020-2021-2022 Biofuel Manadates; US Export Sales OK

Investment flows have been the theme of the past several days of CBOT trading. Some argue that the inflow is due to early Index Fund rebalancing or the pre-roll as some call it. Others suggest its new funds coming into the space due to inflation. All we know is that open interest is rising from…

AgResource Mid-Day Commentary; Investment Flows Boost CBOT to Sharp AM Gains; US Farmers Boost Cash Sales; GASC Buys just 60,000 Romanian Wheat

Grain markets are sharply higher at midday with the soy complex being the upside leader. Managed money inflows on inflation positioning and reports of concerning weather forecasts for South America has the complex pushing to sharp daily gains. March soybean futures was able to push back above $13.00, the highest price since the bearish September…

AgResource Mid-Day Commentary: Canadian Rail Damage, Algerian Tender Weigh on Wheat Values

AgResource Farm Marketing Advice for Tuesday: 1/ No new advice.   Ag markets are weaker at midday as wheat futures worldwide correct from overbought technical conditions and as damage done to a western Canadian rail line will on the margin may shift Canadian supply into the northern US.  Additionally, the US dollar has found new…

AgResource Mid-Day Commentary: NOPA Crush Exceeds Expectations; Funds Add to CBT Wheat Length

AgResource Farm Marketing Advice for Monday: 1/ Soybean Producers: Sell 20% of the 2021 soybean crop at $12.72 basis March soybean futures. CBT ag futures have again traded both sides of unchanged in weak volume, with soybeans, meal and CBT wheat the bullish leaders at midday. The pace of physical US soybean exports remains impressive…