AgResource Midday Commentary; January Soybean Futures Fail at 50 Day Moving Average; US Export Sales of Corn, Wheat and Soybeans Unexciting; China Buys Gulf US Soybeans For February

Mixed are CBOT grain futures at midday with corn/soyoil/soymeal weaker with soybeans/wheat firmer. Financial markets reflect a “risk on” mentality with the US stock market up 350 points, the 10-year note yield down to 4.65%, and the US dollar sharply lower. The Brazilian real has rallied to 4.95:1 USD with Brazilians on a national holiday.…

AgResource Midday Commentary; KC Wheat Rallies on Fund Short Covering with Traders Pointing to China: Corn Drops on Chart based Selling ; GFS Midday Offers More Rain for S Brazil Starting Tonight

It has been another mixed morning at the CBOT. Wheat/soybeans are higher with corn weaker in a continued choppy trade. Private crop yield/production estimates are due from StoneX and S&P Global/Markit in the next few days with the USDA November Crop Report due out on November 9th – next Thursday.   The November WASDE may be…

AgResource Midday Commentary; Soybean/Soymeal Futures Recovery while Wheat/Soyoil Values Hold Lower; Brazilian Weather Focus Increasing at CBOT; GFS Delays Rain Across N Brazil into Monday

AgResource Midday Analysis and Comment:  CBOT futures are mixed at midday with soybeans/soymeal/corn futures higher and soybean/soyoil/wheat futures lower in moderate volume. As the calendar shifts over from October to November, the focus of trader’s is increasingly on Brazilian weather and impact on their 2024 soybean/corn crops. South American weather will loom large in daily…

AgResource Midday Commentary; CBOT Down Following Crude Oil Ahead of US Central Bank Meet; Southern Brazilian Flooding Worsening; GFS Midday Offers a Drier Southern Brazil in November

CBOT futures are lower at midday. Corn and soybean futures are slightly lower with US hard wheat futures are mixed. Other than the soy product trends on the oil share spread unwind, the CBOT has had difficulty sustaining a break or a rally since late summer. The choppy/sideways CBOT price trend should persist. The bulls…

AgResource Midday Commentary: Meal Surges, Forces Nov Soy to Test $13.00; GFS Wetter in Mato Grosso

AgResource Farm Marketing Advice for Friday: 1/ No new advice.                                           CBOT futures are mixed at midday, with meal scoring newer rally highs and forcing Nov soy to test $13.00 as options expire. Meal in recent weeks has done the legwork in boosting crush margins, and despite mediocre US soy export demand, it’s just tough to…