CBT Sinks on Risk Off Into End of Quarter/Month & NASS Report: China Buys New Crop Ukraine Corn; US Annual Corn/Soy Sales Reach 98%/99% of WASDE

CBOT values are sharply lower at midday as fund managers/speculators shed length ahead of the highly unpredictable March Stocks/Seeding Report. Option volatility continues to rise in corn/soybeans suggesting that there will be a sizeable price move following the March 31st report. Wheat option volatility has not expanding much – telling ARC that traders are not…

CBOT Chops Sideways in Slow Volume Session. US Corn Sales Will Be Massive on Thursday AM; HRW Wheat Feeding Purchases Become Active

Dull/mixed is the CBT at midday with corn/wheat lower while the soy complex trades firmer. An early CBOT rally faded with strong cash markets underpinning the midday decline. US farmers show no interest in selling a break with commercial elevator sources telling ARC that rising cash soy basis is having no impact on securing additional…

CBT Rallies Amid Limited Fresh News; Cash Market Firm on Tightening Supply; Brazilian Line up to Load Soybeans Rises to 25 MMTs – Largest Since 2016

CBOT ag futures reversed early losses and are higher at midday. Fund long liquidation slowed following the 8:30 AM CT opening with a reversal in wheat  allowing CBT corn to rise amid strong cash basis bids. Soybeans/soyoil  rallied on strong cash basis with May soybean futures pushing back against chart resistance at $14.40-14.50. Renewal biodiesel…

CBT Corrects Last Week’s Gain in Low Volume; Fund Managers Reduce Risk into the end of the Month/Quarter; US Corn Exports Record Large Last Week

AgResource Farm Marketing Advice for Monday: 1/ Wheat Producers: Exit 50% of 2021 hedges (25% of the 2021 crop) at $6.15 basis July Chi wheat futures for a loss. The downside price risk below $6.00 July is limited. Filled      CBOT ag futures are mostly lower in midday trade while soyoil futures rally to…

China Buys 4 MMTs of Corn this Week-Shifts Corn Outlook from Sideways to New Bull Phase; Soy Follows on ’21 Planting Fight; KC Wheat too Cheap vs Corn

CBOT ag futures are mixed at midday with corn/soy futures sharply higher with wheat sagging on active corn/wheat spreading. China booked another 800,000 MTs of US corn taking their weekly purchase pace to and unexpectedly large 4.00 MMTs (157 Mil Bu). Soy futures have rallied strongly following corn on tightening domestic supplies amid a lack…