AgResource Mid-Day Commentary; China Buys 5-6 Cargoes of French Wheat; Wet Weather Topples E Midwest Corn; Ukraine Corn Too Wet

CBT futures are bouncing with wheat in the lead on rumors of China buying of French wheat. Corn/soybeans have traded positive and negative with momentum funds selling rallies with 50% of the US corn/soybean harvest left to complete and pre-weekend hedge pressure expected on Friday. The charts are pointed down, but the short-term momentum funds…

Massive Fund Selling Sends Ag Markets Lower; Markets Shift Focus to Demand Following Oct Yield Update

AgResource Farm Marketing Advice for Wednesday: 1/ No new advice. World ag futures – except for rapeseed/canola – are sharply lower at midday. International corn markets are fully digesting Tuesday’s slightly bearish USDA data, while it’s difficult to find a catalyst for today’s plunge in wheat contacts. Paris milling wheat futures as of Tuesday evening…

Oct WASDE Data Leans Slightly Bearish Corn/Soy; Exporter Wheat Stocks/Use Pegged at Record Low

AgResource Farm Marketing Advice for Tuesday: 1/ No new advice. The USDA October Crop Report was slightly bearish with corn/soybean futures pushing lower following the report’s release. November soybeans fell to their hard support at $12.00 while December corn uncovered end user pricing below $5.20. US wheat data was considered positive, and futures are slightly…