CBOT soybean/corn/wheat futures are taking a pause from their recent rally on profit taking ahead of Tuesday’s USDA January Crop Report. The CBOT correction was needed following a nonstop rally that started in late 2020 with March soybeans racing to $13.73 (highest price in 7 years) yesterday. Today’s weaker CBOT trade is being called a…
CBOT soybean/corn futures are sharply higher at midday with wheat values mixed on active fund demand and rising world fob markets. The fast approaching USDA January Crop report amid diminished South American crop potential has soy futures pacing today’s gain. Investors are adding to net long positions across the CBOT, but their buying is expected…
CBOT futures are sharply higher at midday with corn, soybeans and wheat posting double digit gains. Soybeans joined wheat in posting new contract highs – exceeding Monday’s rally peak. March corn rallied to $4.96 before profit taking and a modest increase in cash connected selling was offered. An inflow of fresh investment funds along with…
CBOT ag futures are sagging at midday as profit taking and day trade selling which has toppled corn/wheat futures while tugging soybeans back near unchanged. New investment money was put to work overnight which pushed values sharply higher. Profit taking was noted after the 8:30 AM CT reopening. The midday decline is technical in nature…
AgResource Farm Marketing Advice for Thursday: 1/ Wheat Producers: Exit 25% of 2021 wheat hedges basis July Chi futures at $5.86. ARC is uncomfortable with being 50% sold in new crop wheat amid the struggling Russian crop. 2/ Corn Producers: Take profits on short March $4.00 corn puts at $.0075/Bu to reduce risk. This short…
