CBT values opened under pressure and rebounded into the midmorning as news surfaced of several Gulf exporters coming back online as power is restored to 2-3 key facilities. Once the lights turn on, it will take facility managers a day or two to make sure that machinery is functionally normally. However, hope continues to build…
AgResource Farm Marketing Advice for Wednesday: 1/ No new advice. CBT values are mixed at midday, with row crops steady and wheat down on liquidation following larger than expected Canadian crop stocks. Selling momentum has eased as the return of power is slowly expanding across the greater New Orleans area. Current Gulf logistical issues are…
CBT values are lower at midday as the fund selling pace quickens on Ida related US Gulf export delays and the acute weakness that is being felt in cash basis bids. The Delta harvest is accelerating with test cuttings underway in the Southern and Central Midwest. December corn fell to a fresh low at $5.1075…
CBT values are mixed at midday with corn mixed, while soybean/wheat futures are slightly higher. The volume of trade is thinning out as traders head out for a long weekend. ARC looks for short covering rally into the weekend as hope continues to build that the Gulf mess produced by Ida will slowly be resolved…
AgResource Farm Marketing Advice for Thursday: Corn Users: Secure December of 2022 corn futures to cover 50% of corn feed needs at $5.01 The CBT’s emotional correction has paused, with wheat and soy oil leading today’s recovery as expected. ARC mentioned in this AM’s wire that wheat and soy price determination are far less centered…
