CBT Wheat Rallies on German Flooding and Need for Protein Wheat; Midday GFS Forecast Hot/Dry-How Long with the Central US Ridge Last?

It is a mixed midday CBT session with US wheat futures rising while corn/ soybean futures hang in the red in low volume trade. Wheat/corn spreading has been active with excessive European rainfall starting to inflame wheat crop quality concern. The big export seller of world wheat for August/September has been Germany/the Baltics as their…

CBT Prices Rise Sharply on Hot/Dry Central US Weather; Brazil Buying 8 Cargoes of Argentine Corn; Cash FOB Corn Basis Rising in Argentina

CBT corn, soybean and wheat futures are sharply higher at midday. The strong opening fueled a rally that carried December corn in the chart gap at $5.52-5.735 while November soybeans nearly filled its chart gap at $13.825 ($13.8225 high this morning). The dire ‘21 Canadian drought along with the return of hot/dry NC US weather…

CBT Rallies on the Lack of Bearish Surprises.; US Corn, Soybean & Wheat Stocks Are historically Tight; Largest 21/22 Corn Stocks of the Year?

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…

Overnight Price Action Carries Through; Corn, Soy Export Sales Disappoint; Vegoils Rally on Canadian Crop Loss

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…