** General Midday Market Comment: Russian winter wheat crop concern due to hot/dry weather forecasts and the excessive rain for US winter wheat later this week sparked a sharp rally in US wheat futures – which pulled corn/soy futures (temporarily) this AM. The wheat market is worried about lower wheat supplies in 2 key…
** General Midday Market Comment: The macroeconomic undertow of a potential expanding trade war and diminished US trade is impacting a host of financial markets. The Chinese see the new US/Mexican tariff skirmish as the US bullying another country with their “American First” position. The US/China trade war is worsening with Chinese retaliatory tariffs to…
** General Midday Market Comment: The CBOT is back to adding weather premium in price due to a wetter Midday GFS weather model run. The GFS has a vigorous short-wave system pulling northward late next week that produces .5-2.50” of rain from Missouri through the E Midwest. This includes IL, IN and OH. The overnight…
** AgResource Farm Marketing Advice for Wednesday: 1/ Corn Producers: Sell 20% of the estimated 2020 corn crop at $4.19 and 20% at $4.23. anticipated 2020 corn crop. ** Filled at $4.19 2/ Corn Producers: Sell 20% of the 2021 corn crop at $4.24 and 20% at $4.29 basis Dec 2021 corn futures. 3/…
** General CBOT Midday Comment: Sharply higher are CBOT values as corn, soybeans and wheat surge on a combination of wet Central US weather and the need incentivize US farmers to seed summer row crops. Corn has reached its best price since 2016 at $4.1675 with the soybeans/wheat in tow. Black Sea dryness is being…
