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…
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…
 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…
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…
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…
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