CBOT ag futures are mixed at midday. The CBOT has lacked volume as traders try to understand the demand risk of China’s coronavirus against its pledge to open its markets and secure US ag goods as early as next week. Marco financial markets have recovered from overnight selling as the depth and length of China’s…
AgResource Farm Marketing Advice for Wednesday: 1/ Corn Producers: Hedge 20% of the 2021 corn crop at $4.24 basis Dec 2021 corn futures. This would price 60% of the 2021 corn crop. 2/ Corn Producers: Sell 20% of your 2019 corn crop if March corn futures reach $3.95. This would push 2019 corn sales to…
The USDA February Crop Report held few surprises with US 2019/20 corn end stocks holding steady while US 2019/20 wheat and soybean stocks declined. The report was supportive to soybeans, while being neutral to the grains. It’s the February USDA Outlook new crop S&D’s that will more fully reflect China demand based on the Phase…
CBOT grain markets are mixed at mid session with soybeans firm, while the grains sag with corn giving back all of Friday’s gain. The large fund short in soybeans is spurring the bounce along with rumors that 2-3 cargoes of US soybeans sold to China in a new crop position. The China sale is…
CBOT grain markets are mixed at Midsession in a reversal of Thursday’s trade. Recent days have featured back-and-forth CBOT trade with no discernible price trend. March corn has tested support under $3.80 (which held) but has been unable to rise above resistance of $3.90. The same has occurred in wheat and soybeans. The volume of…
