AgResource Farm Marketing Advice for Monday: 1/ No new advice. The wild back and forth of ag markets continues, with wheat and corn lower and soybeans slightly higher at midday. Central US weather threats have been dismissed – for now – in favor of record August Russian wheat exports and funds’ unwilling to exit short…
AgResource Farm Marketing Advice for Friday: 1/ No new advice. CBOT ag markets have extended overnight rallies at midday as few want to add to existing short positions amid escalating attacks in the Black Sea – following a drone attack in Moscow overnight – and as blast furnace heat impacts the Central Plains/W Midwest next…
AgResource Farm Marketing Advice for Thursday: 1/ No new advice. AgResource Spec Advice for Thursday: 1/ Hold Long 2 Dec Chi wheat $6.49. Pull $6.23 stop order on long Dec ’23 CBOT wheat position. ARC forecasts a recovery with Indian imports becoming more likely and with Southern Hemisphere forecasts still challenging. Ag markets are mixed…
AgResource Farm Marketing Advice for Wednesday: 1/ No new advice. Global ag markets are in recovery mode this morning, with volume still rather tepid, as contracts worldwide reach or near oversold territory. Nov CBOT soybeans maintains a neutral chart-based trend. Major Technical healing is needed in wheat and corn. Dec corn’s major moving averages are…
AgResource Farm Marketing Advice for Tuesday: 1/ No new advice. CBOT ag futures are lower at midday, with wheat finding a newer low for the move and spot CBOT corn trading at the lowest level since winter 2021. Momentum-based selling continues, and fundamentally the catalyst has been last week’s improvement in corn, soy and spring…
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