AgResource Midday Commentary; CBOT futures Mixed with Grain/Soy Spreading Featured; GFS Forecast at Midday offers New Tropical Depression; Brazilian Exports Soar – US Shipments Lag

CBOT grain futures have rebounded with the grains higher with the soy market stays in the red. The volume of CBOT trade has been modest with end user support noted in wheat/corn on the early break. With no quick solution to the Black Sea Grain corridor stalemate, CBOT grain futures are back to focusing on…

AgResource Midday Commentary: CBOT Soyoil Higher on Demand; Additional US soybeans to Unknown Destinations; RGDS Est Soybean Seeding up 1.5%

CBOT grain futures are higher in US pre-holiday trade with soyoil futures being the bullish stalwart. Corn/soybean futures are following with soyoil rising on strong domestic demand. US renewable diesel demand continues to build with this sector completely replacing lost US export demand. Gulf US soyoil stays well above South American and tropical oil offers…

AgResource Midday Commentary; Deral Says No Seeding Gain in Parana ; GFS adds Showers for KS/MO/NE on Sept 9-10; US Export Sales Expand – But Well Below Last Year

CBOT futures are mixed at midday with corn/wheat reversing early losses while soybean futures hang in the red on grain/soy spread liquidation. Chi wheat futures have formed a key reversal up after forging new contract lows shortly after the opening on the September liquidation. Massive deliveries against Chicago September futures sparked new contract lows with…

AgResource Midday Commentary; Month End Positioning has been Key to Price Direction; GFS Hotter in the Extended Range Forecast; Russia to Send Discounted Wheat To Turkish Millers

Low volume and mixed is the CBOT at midday. Corn and soy futures are sagging while Chi wheat holds marginally in the green. The volume of trade is in decline heading into 1st notice day tomorrow against September futures and the long US holiday weekend. Few traders will chase rallies ahead of the pending harvest…

AgResource Midday Commentary; CBOT Sags in Corrective Trade with Traders Debating the Yield Impact of another 2 weeks of Hot/Dry Midwest Weather; Stats Canada Number Supportive

Ongoing wheat fund selling on the charts along with traders debating the impact of late season heat/dryness across the Central US has dominated CBOT price discovery discussions. Wheat futures have pushed to new lows, while oat futures pushed to new highs. Spot CBOT oats are now trading at a $.17/Bu premium to spot CBOT corn.…