AgResource Midday Commentary: Soy Recovers; Grains Extract Premium; RMA Insurance Data Points to Reduced US Winter Wheat Seedings

AgResource Farm Marketing Advice for Monday: 1/ Soybean Producers: Sell 20% of your ‘23 soybean crop at $14.19 March. 2/ Wheat Producers: Sell 25% of the ‘23 wheat crop 25% at $6.59 basis March Chicago. Ag markets are mixed at midday with the soy complex adding premium on larger than expected weekly soy export inspections…

ARC Midday Commentary; NOPA Adds 2 New Crush Plants Raising November Crush to a Record 189 Mil Bu and Soyoil Stocks to 1.2 Bil Pounds; GFS Slightly Drier for N Brazil – Hot into Dec 30th

CBOT midday grain values are mixed with soybeans slightly lower, wheat higher and corn caught in between. The volume of trade has been slowed by the coming holidays with few wanting to add to their risk profile heading into the end of the year. Oil share spreading has pushed soyoil against its November low while…

AgResource Midday Commentary; New Money Enters Ag Space on Sharp Fall of the US Dollar; USDA Confirms China Wheat Purchase; Northern Brazilian Rain Forecast for Dec 21-24th

CBOT grain values are higher at midday with corn, soybean and wheat seeing fresh fund inflows (near the opening). The ongoing sharp fall in the US dollar has several key fund managers looking at commodities again. Fund managers loved commodities until World Central Banks started raising interest rates in May of 2022. That set off…

AgResource Midday Commentary; Lines Cross and Funds Sell CBOT; Argentina to Boost Export Duty on Grain and Keep Soy at 33%; Midday GFS Midday Forecast Drier in Week 2

CBOT grain futures are holding in the red at midday with algo/AI trading systems pressuring the market on the bearish overnight trading and the breaking of Monday’s low in corn/soybeans. If you remember back, soybean futures took out the prior week’s high on Monday which triggered fund buying. These momentum traders placed sell stops under…

AgResource Midday Commentary: CBOT Volatility Stays Extreme with Grain Recoverying Monday’s Losses; Argentina to Update its new Economic Policies on 2 PM CT; GFS Drier Next 7-8 Days Across N and C Brazil

CBOT grain futures are sizably mixed (again) with the grains higher and soybeans lower in a reversal of Monday. The volume of trade is holiday restricted with it not taking much order flow to create a meaningful impact on price. Corn/wheat futures have recovered most of Monday’s losses. WTI crude oil futures have fallen to…