Soybeans Gain as Not Enough Rain for IA/N IL over the Next 10 Days;World Wheat Rally Based on Slow Russian Farm Selling;Private Crop Estimates Next Week

CBOT ag markets are mixed at midday with soybeans higher, corn weaker and wheat futures caught in between. The corn market initially fell on the rain across MN/WI/N IA, but the moisture never reached very far south into IA. Funds have continued to add to their length in soybeans/wheat while being nearly flat in corn.…

USDA Announces another 400,000 MTs of US Soybeans To China for 20/21; Midday Forecast Drier for IA/NE; US Ethanol Production Stagnating Since June

AgResource AM CBOT Comment & Analysis: Good Morning! CBOT futures are mixed in solid volume with more than 28,000 contracts of Dec corn changing hands. The volume in wheat/soybeans have been less as funds are already long. Funds are covering a net short corn position estimated at 44-49,000 contracts this AM. Tuesday’s CBOT corn open…

CBOT Soars on Massive Fund Buying of Corn; China Secures 408,000 MTs of US corn (rumored last week); Midday W Midwest Weather Forecast Wetter

CBOT ag markets are soaring at midday with funds covering net short corn and wheat positions. Soybean futures are not reacting with as much upside vigor with last week’s high offering resistance at $9.195 November. The CBOT has a firm tone at midday and a higher close is expected. A top in the corn market…