USDA Confirms Additional Chinese Corn Demand; Ethanol Production Hits 12-Week High

AgResource Farm Marketing Advice for Wednesday: 1/ No new advice. CBOT futures are mixed as corn finds strength on confirmation of Chinese corn buying and rising US ethanol production, while soybeans/wheat sag on limited export interest. CBOT soybeans have bounced despite an accelerating Brazilian harvest. World importers are absorbing ’21 South American soy supplies quickly…

CBOT May Corn Soars on Cash Tightness and Fund Buying; NOPA February Crush Report Bearish; Midday GFS Model adds to Southern Brazilian Rains

CBOT futures are mixed at midday with corn rising strongly on renewed fund buying, heady US weekly export inspections and the difficulty that ethanol producers/exporters are having securing cash corn for replacement. The cash corn market has real strength showing this morning which is relating into old/new crop spreads. Domestic supplies of US corn and…

CBOT Mixed at Midday; South American Crop Size Debate Continues; Brazil’s Ag Minister Concerned About Winter Corn Production

CBOT futures are mixed at midday after an early bout of tired long liquidation. May soymeal futures fell below the 100-day moving average which triggered aggressive fund selling following the close below the 50 day average yesterday. Soybeans followed meal lower until cash connected buying pulled May futures back above $400/ton. The RSI on soymeal…