AgResource Midday Commentary; CBOT Futures Mixed with Soy/Corn Spread Unwinding; South American Soyoil Unlikely to be Imported into the US on a 19% Duty; Canadian Crops Suffer Under Drought

CBOT grain futures are mixed at midday with corn futures higher while the soy complex and wheat futures sag in a correction. Soyoil has rallied nonstop since bottoming following the EPA RVO announcement on June 22nd and a setback  was due. The volume on the AM soy complex break is modest, but with US crop…

AgResource Midday Commentary; Spring Wheat Futures Soar on Potential Smaller ’23 Russian Wheat Crop; July WASDE Report in a Week; GFS Midday Like Overnight Forecast Solution

CBOT grain futures are mixed at midday with profit taking noted in soybeans/ soyoil following the recent sharp early rally. Corn futures sagged into key support at $4.80-4.90 December with wheat holding strong on short covering tied to reduced US/Canadian HRS production and lower than expected early yield data from SE Russia (Krasnodar/Stavropol). The early…

AgResource Midday Commentary; CBOT Values Higher at Midday As Soybean Futures Lead; NASS Report Completely Alters Soy Outlook: GFS at Midday Little Changed

CBOT ag markets are mostly higher with soybeans/soyoil pacing the rally. Corn and wheat have followed soy complex gains as the CBOT continues to react to Friday’s NASS crop data. The NASS June Seeding data completely changed the oilseed outlook amid the decline of 4 Mil acres of US soybeans acres. This was enough lost…

AgResource Midday Commentary: Soybean Seedings Shock Trade with 4 Mil Acre Fall; Corn Seedings Rise 2.1 Mil acres; US Corn Stocks Lowest Since June 2013

 CBOT ag markets are sharply mixed following the June Stocks/Seeding report with soybean/wheat futures higher while the corn market sags on a bearish surprise on 2023 US corn seedings. This June report held something for everyone with the soybean market to be the bullish stalwart thru summer while corn is the bearish anchor. The CBOT…

AgResource Midday Commentary: CBOT Markets Mixed at Midday; Heavy Rain/T-Storms Move into Western IL; US Export Sales Lackluster as Expected

AgResource Farm Marketing Advice for Thursday: 1/ No new advice.                                             CBOT ag markets are mixed at midday, with corn slightly weaker, beans slightly higher and wheat caught between. Volume has been mediocre and ARC continues to highlight the recent plunge in open interest, which exacerbates volatility. Stocks and seedings data drives price action on Friday/Monday,…