Category Archives: Midday Commentary

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…

AgResource Midday Commentary: Row Crops Soar on Brazilian Heat/Dryness; Meal Paces Rally; Brazilian Corn Market Adding Premium

AgResource Farm Marketing Advice for Monday: 1/ No new advice.                                           Corn, soybean and meal futures are sharply higher at midday, with wheat in tow and with soyoil weaker. Meal in recent weeks has been carrying the load in keeping US cash/futures-based soy crush margins elevated – which has worked against strength in oil. ARC’s research…

AgResource Midday Commentary; December Corn Scores New Low; US Soy Product Demand Stays Strong; GFS Midday Brazilian Forecast Hot/Dry for N Brazil Next 10 Days

The USDA is closed for the Veterans’ Day Holiday. There were no daily US export sales and the CFTC’s CoT report will be released on Monday. The US House continues to work on a budget, but a continuing resolution is a 50/50 bet with a shutdown to occur next weekend if a deal is unable…

AgResource Midday Commentary: CBOT Extracts Premium on Larger US Corn, Soy Yield Forecasts; GFS Wetter in Brazil Beyond Nov 22 but Extreme Heat/Dryness Continues Nearby

AgResource Farm Marketing Advice for Thursday: 1/ No new advice.                                           The USDA’s November WASDE is viewed as modestly bearish as US corn, wheat and soy stocks were increased slightly and as global corn end stocks were lifted 2.6 MMTs to 315 MMTs, which if correct will be a 5-year high. Spot CBOT corn posted a…