AgResource Midday Commentary: Row Crops Weaken Slightly; Wheat Maintains Geopolitical Premium; Export Sales Decent but Key is Timing of Harvest in S America

AgResource Farm Marketing Advice for Wednesday: 1/ No new advice.                                           CBOT futures are mixed at midday, with wheat adding modest geopolitical risk and corn and soy retreating from early AM highs amid crude’s correction and hope for improved rainfall in Central Brazil. The EU and GFS models are very much at odds over Brazilian precip…

AgResource Midday Commentary; Back and Forth CBOT Trade Persists as Soymeal Rejects Key Resistance; Amazon River Shipping to Slow on Flow; US Weekly Ethanol Production up 1%

CBOT grains have moved lower at midday on the prospect of rain across parched Northern Brazil and a further fall in energy values. Israel is reporting that it is holding back on its Gaza invasion until the US can set up missile defense systems across the Middle East. This sparked selling in crude oil. Yesterday,…

AgResource Midday Commentary; CBOT Mixed at Midday with Soybeans Gaining on the Grains; Soymeal Pushes to new Rally High; GFS Drier for Northern Brazil into November 4th

CBOT grains are lower and soybean/soymeal firmer at midday. The volume of trade was active following the opening but has since slowed. Corn and wheat markets continue to trade in broad ranges while soybeans find support at $12.70-12.80 relative to November soybean futures. Soymeal is gaining on soyoil with the oil share spread falling to…

AgResource Midday Commentary; CBOT Mixedwith Wheat Higher and Row Crop Futures Lower; GFS Model Holds Dry Weather Trend Across Northern Brazil; Crude Oil Fall Pressrures Soyoil

Wheat/soymeal are in recovery with corn/soybean and soyoil values holding in the red. Large orders have pushed the CBOT intraday as the market recovers from Fridays across the board mid-session selling. The weekend Argentina rain was welcomed which along with the inability of the world energy market to rally has left traders “flat footed” coming…

ARC Midday Commentary; Early CBOT Rally Fails with Soybeans/Corn in Retreat; 2 Wars has Portfolio Managers Looking to Diversify into Commodities; GFS Midday Forecast Drier for N Brazil

The CBOT is mixed at midday with the summer row crops lower while wheat holds in the green. And soyoil futures are higher and soymeal is down in a reversal of recent day price action. Spot Chicago wheat is back above $6.00 with December corn futures rose to their highest price since August 2nd at…