AgResource Mid-Day Commentary;Corn Rallies to best Daily Gains Since early August;China Buys Additional US soybeans; Golden Week Holiday

Sharply higher corn with wheat/soy values following are the CBT market trend. Tightening cash markets (limited farmer selling) along with rumors that China may be looking to make large purchases of US soybeans/corn has lifted values. December corn is testing its 50-day moving average at $5.42 while the 100 day moving average rests at $5.52.…

AgResource Mid-Day Commentary; CBT Mixed in Slow Volume Ahead of Active Harvest Weekend; Ukraine Corn Yields are Disappointing

The CBT is mixed at midday in thin volume. Short betting traders are expecting pre hedge selling in corn ahead an active weekend of Midwest harvest. The harvest is fast, but cash connected selling said to be limited – a surprise. Some cash corn is being sold in the Plains/Missouri, but otherwise, producers are storing…

Wheat Rises on Demand Talk while Corn Jumps on new Funds Inflows based on the Cheapness of Ethanol/Crude Oil Values vs. Coal/Nat Gas

Early selling uncovered consumptive buying in corn/soyoil which has rallied CBT values into the midday hour. Funds appear to be better buyers as chart patterns slowly start to turn to the upside. Wheat has been the upside leader amid rumors of Chinese buying of US wheat (told 1-3 cargoes) while US farmers have not been…