Sagging Energy Values Tug CBT Lower in Sympathy; US Weekly Ethanol Grind Jumps 7%; Oats at a Record Premium to Corn at $.65 Over

CBT futures opened strongly higher with brokers reporting a push of new money into the space. Corn, soybean, and wheat futures rallied until that fund inflow ended with values then settling back into the red. Wheat futures have held in the black awaiting the results from Egypt’s tender for November fob wheat. The fall in…

AgResource Mid-Day Commentary; USTR Seeks New Trade Talks with China – No New Revelations; StoneX Crop Estimates this afternoon

CBT futures are mixed at midday with corn/Chi wheat firmer with soybeans/KC wheat weaker. December oats did reach a new historic high this morning $6.05, exceeding the prior high set in 2014 at $6.00. Old time traders used to argue that oats were the bellwether for the CBT since it was a mostly commercial marketplace.…

AgResource Mid-Day Commentary; NASS Raises the 2020 Soybean Crop By 81 Mil Bu- Bearish Surprise; Wheat Stocks Bullish. Corn Nuetral

The September Stocks Report was deemed as mixed. US wheat and corn stocks data was viewed as neutral to slightly bullish, while the soybean data was bearish. US 2020/21 soybean stocks were well above market expectations at 256 Mil Bu and this will drive CBOT price direction into today’s close. Grain/soy spreads should rally into…