AgResource Midday Commentary; Massive Soyoil Fund Selling Early in the CBOT Trading Session Sets a Bearish Tone in Holiday Volume

CBOT futures are mixed at midday wheat/soybeans lower while corn and soymeal try to hold in the green. The momentum trading (algo) systems have provided all the selling fireworks in thin holiday volume. Active volume of trade can be found in January soyoil, January soybeans and March corn futures. There has been active corn/soybean spread…

AgResource Midday Commentary; Soybean/Corn Spread Unwinding CBOT Holiday Feature; OPEC+ Delays Quarterly Meeting on Supply Cut Disputes; GFS Wetter Across Southern 1/3 of Brazil

Happy Thanksgiving! AgResource will return on Friday AM with comments/analysis before the 8:30 AM CT CBOT opening.    CBOT noon ag futures are mixed with the grains higher and soybeans lower. The volume of trade is holiday reduced with the big news being that the OPEC+ quarterly meeting that was planned for the weekend was postponed…

AgResource Midday Commentary; CBOT Soyoil Breaks out of Key Chart Pattern; China Books Additional US Soybeans: GFS Midday Forecast Wetter for Southern Brazil

CBOT grain futures are higher at midday with corn, wheat and soybean gaining on chart-based buying amid economic stability worry across Argentina and falling crop ideas in Brazil. Declining Brazilian corn/soy crop estimates underpins the CBOT on breaks. And December soyoil futures have pushed above the neckline of a head-and-shoulders bottom which sets a target…

AgResource Midday Commentary; Mexico Buys More US Corn; Timing of Milei Policy Enactments Uknown – Farmers there halt cash sales; GFS Midday Drier N Brazil and Wetter S Brazil

Mixed with intraday surges of volume describes the CBOT at midday. The grain watercooler talk is centered around the election of Argentine President Milei – and his next actions – and Brazilian weather and crop sizes. CBOT volume is thin, and traders should be careful with large orders as it will move the market in…

ARC Midday Commentary; Slow Grind Lower at CBOT in Poor Volume; GFS Midday Forecast – Heavy Rain Batters S Brazil Next Week with Ridge Returning to N Brazil Post Turkey Day.

The big question that CBOT traders are pondering is have CBOT prices digested the rain that is forecast for Central and Northern Brazil next week or is a bigger break ahead? January soybean futures fell $.50/Bu in the past 3 days after rallying nearly $1.50/Bu from their October low. Amid a US holiday shortened trading…