AgResource Farm Marketing Advice for Thursday: 1/ No new advice. CBOT futures are wildly mixed at midday, with wheat and old crop corn & soy down sharply, while new crop contracts maintain modest gains. Profit taking ahead of a 3-day weekend is noted, particularly following fund buying corn & beans on Wednesday of 32-35,000 contracts.…
AgResource March Stocks/Seeding Analysis: The USDA Stocks/Seeding Report was bullish with 2021 US corn and soybean seedings well below trade estimates. This creates a need for the marketplace to secure/buy additional acres this spring. Moreover, March 1st US corn stocks were 100 Mil Bu less than expectations which creates the need for WASDE to raise…
Moving to the Orders at Midday: CBOT futures are sharply lower at midday with May corn sliding below $5.35, while May soybeans drop to $13.70 and May Chi wheat to $6.00. Trade volume is moderate which has helped to exacerbate the downward slide as fund managers take off length heading into the end of the…
CBT values are lower at midday with old crop soybeans sinking on risk off trading ahead of the end of the month/quarter and Wednesday’s USDA/NASS Stocks/Seeding report. It does not take much volume to push the market either higher or lower, but this will change after Wednesday with fund managers and traders willing to return…
The CBOT is mixed at midday with soybeans, corn, and wheat futures trading either side of unchanged. Soybeans/soyoil have endured additional long liquidation while the grain markets are bouncing in thin volume trade. Wheat has paced the morning rally as traders try to assess the logistical/cost impact of the stuck container vessel in the Suez…
