Wheat Rises above 50 Day Moving Average Triggering Buying in Corn and Wheat; Midday Forecast Unavailable on Computer Disruption

** AgResource Midday Comment and Analysis: Midday CBOT markets are mixed with corn/wheat futures firm, while the soy complex sags amid the fear of reduced SE Asian soybean and soymeal demand. The volume of trade has been extremely slow with fresh news lacking. Wheat rallied on chart-based buying as Chi wheat rallied above its 50-day…

CBOT Extends Correction; Saudi Oil Output Back to Normal in 2-3 Weeks

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/ Soybean Producers: Hedge 10% of the 2020 soybean crop at $9.64 basis November 2020 futures.  3/ Soybean Producers: Hedge 20% of 2021…

CBOT Firm Following Big Crude Oil Gains; Trump Plan for Expanded Biofuel Demand in 2020; Central US Weather Warm into October

** AgResource Midday Comment and Analysis: The bullish macro tailwind provided by a $6.00/barrel higher crude oil market has lifted CBOT corn and soyoil (the biofuels) to moderate daily gains. Soymeal futures are sinking while US wheat futures are enjoying additional fund short covering amid the firming Black Sea wheat marketplace. The rally in the…

USDA September Report Trims US Corn/Soy Yields Slightly; Focus Shifts to Harvest Yield Data and China Soybean Demand. Seasonal Lows Being Formed?

** AgResource USDA September Crop Analysis: As expected, the September USDA Crop Report offered few changes from August with the US corn and soybean yield fractionally lower amid reductions in plant populations. NASS pegged the US corn yield at 168.2 BPA (down 1.3 BPA from August) with the soybean yield at 47.9 BPA (down .6…