The USDA Crop Report was bearish on stocks, but the bullish shocker was seedings as total 2020 US 8 crop seeding declined 6.72 Mil acres. The decline was based in corn where seedings which fell 5 Mil acres to 92.0 Mil acres. This was 3 Mil acres more than the average trade estimate. The FSA…
AgResource Farm Marketing Advice for Monday: 1/ No new advice. In a reversal of Friday’s price action, corn/wheat futures are higher while soy futures hang in the red amid a concern for an expansion of seeding within Tuesday’s NASS report. The average trade estimate looks for a decline of just over 2 Mil acres of…
Corn, soybean and wheat futures are lower in midday CBOT trade. The volume of trade has been active. The funds are back to selling across the CBOT adding to their net short position in corn/wheat while exiting soybean length. The market can’t seem to shake the duel bearish aspects of record large daily US covid-19…
Corn, soybean and wheat futures are lower in midday CBOT trade with December corn falling to a new contract low of $3.24. July corn futures has not scored a new contract low as cash basis strength is underpinning this market heading into 1st notice day on Tuesday. Funds have been aggressive sellers from the opening…
 Mixed in a reversal of Tuesday’s price action are CBOT values at midday. Soy/wheat values are weaker while corn bounces on better than excepted US weekly ethanol production. Trade volume is modest as traders do not desire to expand their market risk heading into the weekend and next week’s USDA June Stocks/Seeding Crop Report. And…
