AgResource Farm Marketing Advice for Tuesday: 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 futures as Russian wheat crops worsen. Firm energy prices and US dollar weakness has pushed buying back into ags just after the AM opening.…
Fresh US daily export sales of soybeans, corn and soyoil could not counter fund selling tied to the likelihood that Argentine Gov’t intervention will resolve the 19-day stevedore/crush strike. Soybeans and soymeal have endured the most fund selling amid the halting of new cargo switching to the US Gulf. Wheat futures have sagged on corn/wheat…
  Soybeans/soyoil have paced the CBOT rally while wheat sags in the Christmas Eve Day trading session. The volume of trade has been curtailed by the coming holiday and the fast-approaching end of the year.  Just 4 trading sessions remain in 2020 and fund managers are not willing to take more risk. However, fund managers are…
The CBOT is sharply higher at midday. Corn and the soy complex have scored new contract highs with the wheat market reversing overnight losses on fresh buying. The holiday looms, but based on the volume at the CBOT, few would imagine that Christmas is just 36-48 hours away. CBOT volume is active today on a…
The CBOT is mixed at midday with corn, soy and wheat futures trading either side of unchanged. A push to new rally highs uncovered profit taking from the bulls ahead of the holiday with a slight improvement in the rainfall forecast for Argentina and S Brazil in the last few days of 2020. Traders are…
