AgResource Midday Commentary: Wheat Rallies Further on Yet More Chinese Demand; Plunge in Crude Weighs on Row Crops

AgResource Farm Marketing Fills for Wednesday:  1/ Wheat Producers: Sold 25% of the ‘23 wheat crop at $6.39. FILLED. 2/ Wheat Producers: Sold all remaining ‘22 wheat at $6.39 basis March Chicago.  AgResource Farm Marketing Advice for Wednesday: 1/ Soybean Producers: Sell 20% of your ‘23 soybean crop at $14.19 March. 2/ Wheat Producers: Sell…

AgResource Midday Commentary; China Buys more US SRW Wheat; Rumors of Brazilian Corn Switching to the US: Midday GFS Forecast Drier N Brazil

CBOT futures are mixed at midday with soybeans lower, while the grains have rallied. The volume of CBOT trade is down from yesterday with fund managers busy covering massive corn/wheat shorts while pealing back length in soybeans and soymeal. Soyoil is back testing key support at $.50 basis January futures. China purchased an additional 200,000…

AgResource Midday Commentary: Soybeans Shed Risk Premium on Projected Brazilian Rainfall in Mid-Dec; Wheat Rallies on Confirmation of Chinese Demand

AgResource Farm Marketing Advice for Monday: 1/ Soybean Producers: Sell 20% of the 2023 soybean crop if March futures reach $14.19. This would push 2023 sales to 60%. CBOT ag markets are mixed at midday with Jan beans lower and falling below its 200-day moving average while wheat surges on confirmation of sizable demand from…

AgResource Midday Commentary; CBOT Mixed with Grain Buying Following the Opening; Soymeal Sags on Weakening Argentine fob basis; GFS forecast for N Brazil Consistent

CBOT grain values at midday with soy lower ahead of the coming improved rain chances for Northern Brazil. Soy values are extracting weather premium while the grains are reluctantly following in sympathy. Trading volume is down from recent sessions amid a lack of fresh news. Its South American weather and the market position of managed…

AgResource Midday Commentary: CBOT Steady/Higher at Midday; Crude & Soyoil Reverse AM Losses; GFS & EU Models Stay at Odds Over Brazilian Rainfall

AgResource Farm Marketing Advice for Wednesday: 1/ Soybean Producers: Sell 20% of the 2023 soybean crop if March futures reach $14.19. This would push 2023 sales to 60%. CBOT ag markets are steady to higher, with KC wheat pacing the recovery on continued short covering. Soyoil has followed crude in reversing early weakness – despite…