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…

AgResource Midday Commentary; Crude Oil Prices Tank – Ag Futures Follow Lower; GFS Slightly Drier in 1-10 Day, Wetter in 11-15 Day Period; US Soybean Weeky Export Sales Record large at 144 Mil Bu

The sharp fall in US WTI crude oil futures produced selling across the ag sector including soybeans/soymeal where speculators had built up a sizeable, long position following the October Crop report. Soybeans/soymeal had fallen to sharp losses while corn, wheat and soyoil are trying to recover/bounce. Corn futures are back into the green at midday…

AgResource Midday Commentary; NOPA Soyoil Stocks fall to 1,099 Mil Pounds-Lowest Since December 2014; EIA Weekly Ethanol Grind Rises 4%; GFS Like Overnight Run for South America

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%. As expected, it has been a mixed CBOT trading session with debate ongoing as future South American weather and the crop damage that has occurred, the weekend Argentine…

AgResource Midday Commentary; CBOT Turns Higher on Drier Midday GFS Forecast for Northern Brazil; NOPA Out on Wednesday; Mexico Secures More US Corn

Corn, soybean, and wheat futures are mixed at midday. Any selling has been concentrated in soybeans/soymeal with the grains trading either side of unchanged. Soyoil has been the bullish stalwart of the morning on oil share spreading with December futures rising to their best levels since October 23rd. However, CBOT trade volume has trended lower…