April USDA Leans Bearish; Markets Firm on Positive Macros, Potential Cut in World Crude Production

AgResource Farm Marketing Advice for Thursday: 1/ No new advice. The USDA’s April Crop Report held slightly bearish surprises for corn/wheat, while being neutral for soybeans. However, macro/financial forces via a rise in crude oil (20 Bil barrel/day OPEC/Russian cut?) along with the massive monetary stimulus provided by the US Central Bank has produced a…

Weekly US Ethanol Data Bearish as Production Plunges & Stocks Reach Records; Traders Await USDA CONAB/WASDE Reports Thursday; World Ethanol Shutters

Dull & mixed is the midday CBOT trade with corn and soybean weaker with wheat values trading mostly higher. Trading volume is diminished ahead of the USDA April WADSE report due tomorrow morning at 11:00 CT. The market has a negative feel following the weekly EIA report that was bearish for corn. ARC looks for…

Few Buyers Willing to Chase CBOT Rally; Funds Square Positions Ahead of April WASDE; CME Livestock Futures Bid Limit as Extreme Volatility Persists

Midday CBOT values are mixed in better volume with short covering the feature in corn/soybeans with funds reducing some of their market risk in long wheat ahead of Thursday’s USDA April Crop report and the coming 3-day weekend.  A mixed CBOT close is forecast following the midday trend. Traders do not want to chase strength…

Corn Sinks on Slowing Domestic Demand; Soybeans Waiting China While Wheat Watches Black Sea Weather – The Need for Rain!

Midday CBOT values are mixed in slow volume with few traders wanting to add to their risk profile in a holiday shortened week amid the big unknowns of coronavirus and world energy prices. CBOT brokers report limited trading interest with corn sliding on US ethanol capacity shutdowns and negative feeding margins. CBOT wheat traders are…

CME Livestock Markets in Panic with Limit Losses; May Corn Drops Below Support at $3.32; US Ethanol Industry Shutters on Margin

Midday CBOT values are mixed with summer row crop futures lower while the wheat market is trying to hold in the green. The volume of trade is active with funds piling into a larger net short corn position while liquidating accumulated soymeal length. ARC looks for a weaker close in corn/soy while wheat tries to…