AgResource Midday Commentary: CBOT Mostly Lower on Negative Macro Input, Higher Dollar; Egypt Buys Russian & Romanian Wheat

AgResource Farm Marketing Advice for Wednesday: 1/ No new advice.                                             Midday CBOT futures reversed overnight gains rather quickly this AM amid weighty macro markets, wet Plains/W Midwest forecasts and as FAS’s daily reporting system was void of new soybean demand from China or others. Rating firm Fitch downgraded US debt from AAA to AA+, a…

AgResource Midday Commentary: Wheat Sags on Renewed Spec Selling; Russian Wheat Crop Update – Low Protein Abounds; Cash Soyoil Basis Firms

Midday CBOT futures are mixed to lower as wheat sags on renewed fund selling. Corn futures are following wheat downwards while soy futures trade on either side of unchanged. Longer term support is offered below $5.00 December corn futures with November soybeans having like support below $13.20. Oil share spreading interest has returned with soyoil…

AgResource Midday Commentary: Funds Cut Losses on Last Week’s CBOT Purchases: US Weekly Exports Start to Seasonally Improve; China Active Cash Buyer on the Break

Volatility – it is occurring in abundance with CBOT futures sharply lower this morning. Remembering back to just a week ago, Chicago and KC wheat futures were limit bid with corn/soybeans in tow on threatening Midwest weather and Black Sea grain export concern. Today, the bearish feature is an improved Central US weather forecast with…

AgResource Midday Commentary; CBOT Leaks Lower on the Hope for Improved Midwest Rain Amid Liquidation; 1st Notice Looms on Monday for Soy; GFS Midday Offers Scattered Showers

It has been another volatile CBOT session with values swinging sharply lower following the 8:30 AM CT reopening which triggered sell stops below last Friday’s low. The stop loss selling was buffered by end user/commercial demand which rallied prices back to unchanged in the grains. News that Ukraine had attacked Russia near a grain export…

AgResource Midday Commentary; CBOT Sags on a lack of Buying with Hope for Better Midwest Rain Next Week; Ukraine Grain Though the EU Will be Challenging

Mixed in slow volume has been CBOT grain trade with corn/soy values under pressure on the belief that next week’s Midwest weather will improve as the recent extreme heat abates while traders debate Black Sea supply risks. Extreme volatility in August soybeans and soy products ahead of 1st notice day on Monday has been a key…