CBT Corrects Early Day Gains on Windfall Profit Taking; Midday GFS/Canadian Forecasts Dry for Plains/NW Midwest; US Export Sales Poor

CBT futures are correcting early morning gains on windfall profit taking. The morning selling is occurring as the bulls accept of windfall gains following Wednesday’s NASS USDA Report. The coming 3-day weekend and uncertainty of US weather which includes a tropical storm has pushed the bulls into taking some risk off the table. ARC expects…

NASS Reports Bullish for CBT Corn/Soybeans; Combined ’21 US Corn/Soybean Acres Just 180.3 Mil; June Stocks Close to Trade Estimates

The June NASS Stocks & Seeding Reports were bullish for US corn/soybeans with the CBT posting sharp to limit up gains. The only bearish surprise was wheat including a slight increase in new crop seeding. The June Stocks/Seeding report raises weather/yield risks for the remainder of the summer and opens the market to further gains.…

Corn/Soy Rally Sharply on South American Cold; China Buying of PNW Soybeans for October;Covering Before the NASS Stocks/Seeding Report

CBT futures are sharply higher at midday with corn and new crop soybeans the upside leaders. Spring wheat futures have sagged from fresh contract highs on profit taking ahead of the Stats Canada Seeding forecast that will be out Tuesday morning. Traders are also debating flooded/drowned out crops in Northern Missouri/Central Illinois along with frost/freeze…

Supreme Court Allows EPA to Grant Biofuel Waivers; Drought Improvement Unlikely In Plains, Upper Midwest

AgResource Farm Marketing Advice for Friday: 1/ No new advice. Ag markets are widely mixed at midday, with spring wheat and canola rising on renewed yield threats in Canada, while CBT markets shed additional premium following the news the US Supreme Court will allow the EPA to grant blending waivers to small refineries. The collision…