AgResource Midday Commentary; Tepid Volume as Traders Measure US Yield Results; Weekly US Export Sales as Expected; Better Rains Heading for the Central US in Late October

CBOT futures are mixed at midday with soybeans/soyoil higher while wheat futures are slightly lower. Corn is trading either side of unchanged not knowing whether they should follow the rally in soybeans or the fall in wheat. CBOT volume remains constrained with large orders able to push the market in one direction or the other.…

AgResource Midday Commentary; CBOT Soyoil/Wheat Values Post Strong Gains at Midday; Funds Show New Interest in CBOT grain; GFS Forecast Wetter Beyond September 19th

CBOT futures are mixed at midday with soyoil/wheat the upside price leaders with soybean/soymeal futures sagging on oil share spreading. The volume of trade is in recovery with brokers indicating that new investment funds are back looking at the grain markets as the gyrations of the summer weather market have passed. The multi-year low price…

AgResource Midday Commentary; USDA September Report Slightly Bullish for Wheat/Soybeans; Nuetral to Slightly Bearish for Corn on Extra Acres; Seasonal Low Forming for World Wheat?

The September USDA Crop Report was in line with trade expectations. NASS corn and soybean yields came out close to the pre report private estimates, but CBOT values are lower following the report’s release. It is now up to actual harvest yield and crop quality reports and the late Sept Stocks/Final Small Grain Report to…

AgResource Midday Commentary; CBOT Mixed with New Contract Lows in Chicago Wheat; Paris Wheat Hold Support; China to Change Contract Specs to 13% Moisture for Soybeans?

CBOT futures are mixed at midday with soy futures higher while the grains sag. Traders argue that if NASS/USDA is to come up with any bullish surprises in tomorrow’s USDA crop report they will be focused on the complex. In August, WASDE forecast US 2023/24 corn end stocks above 2.2 Bil Bu – a sizeable…

AgResource Midday Commentary: Low Volume Pre Report Trade Persists; Demand Story for US soyoil; GFS 12z Forecast Little Changed

CBOT futures are mixed at midday with choppiness being the feature. Chi wheat futures pushed to new lows at $5.905 while November soybeans tested key support just above $13.50, before recovering. CBOT corn has been trading either side of unchanged for most of the morning. CBOT volume remains horribly slow as few traders want to…