AgResource Midday Commentary; Month and Quarter End Liquidation Felt this Morning; USDA/NASS Crop Reprorts Friday; China Rumored to Secure Ukraine Corn – Can You book Freight?; CBOT Volatility Ahead

CBOT ag markets are mixed at midsession with corn higher, soybeans lower with wheat trapped in between. Soyoil is lower as oil share spread unwinding is occurring which has pushed soymeal into the green. Yesterday was just the opposite with soyoil soaring to strong gains as soymeal sagged. The CBOT has been choppy for most…

AgResource Midday Commentary; Oil Share Back in Vogue on surging Energy; Wheat Futures sag on GASC Purchase of Romanian/Bulgarian Wheat; US Ethanol Production Up 18%

CBOT ag markets are mixed at midsession with aggressive price offers to GASC pressuring CBOT wheat values, while corn futures rise above chart resistance due to a surge in energy prices. Soyoil/soybean futures are following the rise in corn in expanding volume, while meal sags on expanding US crush operations. A close above $4.83 basis…

AgResource Midday Commentary: CBOT Dull, Choppy at Midday; US Dollar Scores New Rally High

AgResource Farm Marketing Advice for Tuesday: 1/ No new advice.                                           CBOT ag markets continue to do very little ahead of the release of NASS stocks data. Final US wheat, barley and oat production will also be published as well as a revision to final 2022 US soy production. The market is aware that feed/residual is…

AgResource Midday Commentary: CBOT Mixed in Thin Volume; Funds Shed Length in Soyoil; South Am Forecast Too Dry

AgResource Farm Marketing Advice for Monday: 1/ No new advice.                                           CBOT ag markets are mixed but little changed in thin volume. It’s clear few want to add to existing positions or boost participation ahead of key NASS data on Friday. A clearer yield row crop yield trend will also be known in the next 10…

AgResource Midday Commentary: CBOT Steady/Higher in Thin Volume; Soyoil Paces Recovery; Midday Weather Forecasts Unchanged

AgResource Farm Marketing Advice for Friday: 1/ No new advice.                                           Grain and soy futures at the CBOT are steady to higher with soyoil pacing the recovery due to growing renewable diesel (RD) demand with end users taking coverage into Q1 2024. The recent soyoil price break raised RD margins with crude oil/petroleum diesel prices rising…