CBT futures are higher at midday (July corn sharply higher at new highs at $7.505) following through with its post report rally on Monday. The 2021 Canadian drought is forecast to worsen over the next 2 weeks and is becoming one for the record books. The volume on the AM CBT rally has been normal,…
CBT futures are holding their morning gains based on a neutral to slightly positive July WASDE crop report. The report confirmed WASDE’s conservative nature in adjusting US/Canada and Brazilian crop estimates. WASDE will further cut its Canadian crop and Brazilian corn crop estimates in August & September based on adverse weather. Brazil will suffer another…
AgResource Farm Marketing Advice for Friday: 1/ No new advice. CBT futures are again mixed but mostly lower at midday as market focus remains centered on Midwest weather exclusively. Radar maps show widespread precip working slowly across Central Iowa and Central Illinois. The midday GFS maintains weekend accumulation of 1-2” across the Central Midwest, with…
AgResource Farm Marketing Advice for Thursday: 1/ No new advice. CBT futures are lower at midday with soybeans/soyoil the upside leaders with wheat/corn in decline. The CONAB Brazilian corn production estimate of 93 MMTs was above private estimates, but in line with expectations. Rain is forecast to drop across Iowa on the weekend, but so…
Carryover Corn Fund selling from Tuesday – Weakness in the Grains Extends: CBT grain futures are lower while the soybean market hangs in the green on end user pricing and active soy/corn spreading. December corn has fallen back to last week’s low which completely erased last week’s NASS Stocks/Seeding rally. Soy futures are holding stout…
