AgResource Farm Marketing Advice for Wednesday: 1/ No new advice. CBOT grain markets were weaker overnight and were under early pressure at the morning open but have moved off the lows after an early burst of fund selling. Market news has been limited at midweek, and trading has largely developed around the upcoming USDA reports.…
AgResource Farm Marketing Advice for Tuesday: 1/ No new advice. World grain futures are mostly lower at midday as spot corn, and KC & European wheat bump against chart-based resistance, which is unlikely to be breached until NASS stocks & seedings data is published. Wheat markets have been the bearish leader on Tuesday as nearby…
AgResource Farm Marketing Advice for Monday: 1/ No new advice. CBOT grain futures are steady/higher at midday in a reversal of Friday the volume of trade has been active with short covering being featured. Â Wheat and soy futures have been the bullish leaders on the Russian political battle between the Kremlin and a private…
Wax on/Wax off! CBOT grain futures are mixed at midday with corn & soybean in the red and wheat futures following the EU market higher. Based on midday CBOT values, March corn prices are virtually flat for the week at $4.395, May soybeans are down 3 cents (last week’s close at $11.9825) with May Chicago…
CBOT values are mixed at midday. May corn futures failed to accelerate through the 50-day moving average while selling in soyoil futures pulled soybean prices lower. A close above the 50-day moving average in May corn ($5.42) is needed to confirm a new leg up. Otherwise, the CBOT is holding in a sideways trading pattern…
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