ARC Mid-Day Commentary; President Biden & Chinese President Xi to Hold a Virtual Summit Monday; Soymeal Rises Above 100 Day MA

CBT ag futures have traded both sides in reduced volume from recent daily trading sessions. Corn and soybeans are the upside leaders while wheat follows. Managed money was a buyer following the 8:30 CT CBOT reopening. The announcement of the Russian floating weekly export tax came as no surprise which was digested in Thursday’s rally.…

China Rumored to Be Buying/Bidding for Ukraine Corn for Jan-June; Russia Wants to Slow Wheat Trade; Brazilian GMO Decisions on Argy Wheat Thursday

AgResource Farm Marketing Advice for Wednesday: 1/ Wheat Producers: Sell 25% of the 2021 wheat crop at $7.98 basis December wheat futures. This would push 2021 wheat sales to 50%.   2/ Corn Producers: Sell 20% of 2021 corn production at $5.84 basis March corn futures.  3/ Soybean Producers: Sell 20% of the 2021 soybean crop…