AgResource Midday Commentary; NOPA Member Soyoil Stocks Fall to 9 Year Low at 1,100 Mil Pounds – Demand Bull Market Unfolding; Northern Brazilian Dryness Looks to Continue; Corn Lower on Open Midwest Harvest Weather

CBOT grain markets are mixed at midday with corn weaker while soybeans and wheat futures are higher. Soyoil has pushed to heady gains based on NOPA member soyoil stocks falling to their lowest levels in 9 years at 1.1 Bil pounds due to record large domestic soyoil demand. The CBOT has a firm undertone to…

AgResource Midday Commentary: CBOT Mixed at Midday; China Continues Wheat Buying Spree; Soy Export Demand Remains Tepid

AgResource Farm Marketing Advice for Friday: 1/ No new advice.                                           CBOT grain markets are mixed at midday, with the soy market retreating from Thursday’s dramatic rally on tepid export demand, wheat adding premium on newfound interest for US origin from China, and corn caught in between. Participation rates remain lackluster. Position squaring dominates price discovery…

AgResource Midday Commentary: CBOT Rallies on Row Crop Yield Cuts; More Attention Paid to Abnormal South American Weather

AgResource Farm Marketing Advice for Thursday: 1/ No new advice.                                           CBOT grain futures rallied following the USDA October Crop report as US ’23 corn/soybean yields came in slightly below average trade estimates. The US corn yield was 173.0 BPA, down .5 BPA from trade expectations and down .8 BPA from August. And the US soybean…

AgResource Midday Commentary; Funds Add to Bearish Soybean Bet Ahead of USDA Report; Corn Firmer on Soybean/Corn Ratio Spread Unwind; South American Weather To Gain into Late October

CBOT futures are mixed at midday with corn higher while the soybean market sags to test $12.50 while wheat prices drop along with Paris futures. Fund managers are adding to their net short soybean position via the charts while cash rumors abound that China is back asking for US SRW Gulf wheat offers. China appears…

ARC Midday Commentary; CBOT Mixed at Midday as Egypt Secures Russian Wheat in Private Deal; CONAB estimates Brazilian Soybeans at 162 MMTs, Corn at 119.4 MMTs; GFS Foreast at Midday Consistent

CBOT futures are mixed at midday with soybeans/soymeal higher while corn/wheat and soyoil trade in the red. Soyoil futures have been pushed to sharp losses on the ongoing oil share unwind. December soyoil is back to testing $50-52 cent chart support, a level where the rally started back in June. Corn, wheat, and soybean futures…