CBOT futures are mixed at midday with soybeans firm while corn and wheat sag. The volume of AM trade is abysmal with few traders wanting to take on any new risk ahead of the USDA January Report out on Friday. Most discretionary traders have not returned to trading and are awaiting both the USDA’s Friday…
AgResource Farm Marketing Advice for Tuesday: 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 15% of your 2019 corn crop if March corn futures reach $4.10. This would push 2019 corn sales…
CBOT futures are mixed at midday with soybeans recovering while the grains sag. The corn market ran into fund selling as March fell below the 20 and 50 day moving averages and broke out to the downside on the charts. Funds are heavily long wheat which makes this market vulnerable to profit taking, while the…
CBOT futures are sharply lower at midday in a risk off session. The fund flows are in the direction to reduce risk relative to the US strike against a key Iranian General and the promised retaliation by Iran. Crude oil has rallied sharply, but the US dollar has retreated from a sharp early gain. It’s…
CBOT futures are higher at midday as funds continue to close out their net short positions in corn/soybeans ahead of the Jan 10th USDA crop report and the Jan 15th signing of the US/China Phase 1 trade pact. South American weather and crop discussions have not had much impact on CBOT price in recent weeks,…
