CBT grain/soy futures are sharply higher with old crop corn/soybeans pacing the gain. Traders are certain that the old crop summer row crops have a bullish story on the tightness of nearby cash supply. WASDE is not expected to raise or lower their 2020/21 soybean stocks estimate of 120 Mil Bu – which is viewed…
CBT grain/soy futures are sharply lower at midday on fund liquidation ahead of the USDA May Report which will be out on Wednesday at 11 AM CT. Fund managers hold windfall profits on long CBT positions and banking some of that profit makes perfect sense ahead of the unpredictability of a USDA report. However, the…
CBT grain/soy futures are higher at midday as “sell the fact” corn trading had only a momentarily bearish impact. FAS/USDA confirmed that 1.3 MMTs of US corn was sold to China. ARC understands that an additional 3-4 MMTs was also sold to China on Monday/Tuesday with the total purchase of around 5-6 MMTs (Gulf for…
AgResource Farm Marketing Advice for Thursday: 1/ No new advice. CBT grain/soy futures are mostly higher at midday with new crop soybeans and corn scoring new contract highs. Funds are adding to net long positions as the Brazilian corn crop shrinks and Central US weather is far from perfect. Clients need to remember that anything…
AgResource Farm Marketing Advice for Wednesday: 1/ No new advice. CBT grain/soy futures are mostly higher at midday with any selling being in old crop corn futures and tied to China canceling out of 140,000 MTs of old crop corn. The USDA also confirmed that Mexico booked 184,100 MTs and an unknown buyer of 147,320…
