US Soybean and Corn Sales Record Large for early March; GASC Books 360,000 MTs of E European/Black Sea Wheat; Midday GFS Forecast Wetter for Argy

AgResource Farm Marketing Advice for Thursday: 1/ Livestock Feeders: May and forward soymeal as offering an attractive purchase price below $404/ton. Move purchase coverage up to 75% thru the summer on any price fall in May soymeal to $404 and below. Clients may have to secure futures since crushers are not offer cash meal beyond…

CBT Falls on March 17-20th Argentine Rain Prospect; CONAB Out Thursday AM with March Brazilian Crop Estimates; US Ethanol Demand Solid/Improving

 CBOT futures are sharply lower at midday based on long liquidation in thinning volume. Improving rain potential for Argentina and the Central US Plains has pushed all CBOT values sharply lower. May corn, soybean and KC May wheat have declined to their key chart-based support areas at; $5.30-5.35, $13.90-14.10, and $6.00-6.10, respectfully. Cash connected end…

March WASDE Carbon Copy of February; CBOT Declines & Recovers as Traders Point to Speculative Position Bump Next Week; Awaiting CONAB Thursday

The March USDA crop report failed to offer any excitement with CBOT futures in decline on liquidation. Historically, the USDA is passive in March due to the more important Stocks/Seeding Report that is due on March 31st. However, this month’s report was ultra-passive with WASDE not making any change to US 2020/21 corn, soybean, or…

CBT Grains Retreat in Pre USDA Crop Report Liquidation; Soybeans Hold Strong on Rising World Vegoil Values; Too Much Rain for Northern Brazil

CBOT corn/wheat futures are weaker at midday with the soy complex higher on tightening US supplies amid the fear of Brazilian crop losses. The Northern Brazilian weather forecast stays too wet while Argentina and S Brazil are too dry. South American crops are in retreat which underpins CBT values on breaks. ARC admits that we…

CBOT Rallies on Adverse South American Weather; US January Census Soybean Exports Record Large at 324 Mil Bu; Midday Forecast Holds Dry Argy Trend

Rising CBOT prices amid concern for South American weather is the theme at midday with corn, soybean, and wheat futures all in the green. US non-farm payrolls jumped 379,000 in February, a larger than expected gain showing strength to the US economic outlook. As a larger share of the US population is vaccinated, confidence in…