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…
CBT futures are sharply lower to limit down at midday with corn futures trading at the limit 40 cents down in new crop futures. Wheat and soybeans have followed corn with sharp daily losses with KC wheat futures falling back to under $5.80 basis September. Emotions are high with liquidation with December corn futures said…
CBT futures are mixed at midday with grain futures lower (corn/wheat), while soybeans/soyoil hold onto gains. In nervous pre-holiday trade, it appears that July futures are having an oversized impact on CBT grain values. There are just 5,400 contracts of July corn open so when someone wants to take profits, it has an oversized impact…
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…
