Category Archives: Midday Commentary

ARC Midday Commentary; Soyoil Weaker On Oil Share Spread Profit Taking; GFS Cooler in the 11-15 Day Period (vs overnight) with like Amount of Midwest Rain; Ukaine Grain Export Corridor Impact

CBOT grain futures are mostly higher at midday with soybeans/soymeal pacing the advance while soyoil futures correct Monday’s rally to new rally highs. Wheat and corn prices have sagged from a strong opening as Midwest rains and forecast uncertainty regarding Central US heat in late July is being debated by traders. Russian/EU wheat prices are…

ARC Midday Commentary; CBOT Soyoil/Soybeans Sharply higher with Crush Margins Expansion: China Books US soybeans off the PNW for October; GFS Cooler/Wetter at Midday

CBOT grain futures are higher at midday with soybeans/soyoil being sharply higher ahead of the USDA July crop report on Wednesday. The trade is preparing for a bullish USDA report due to US 2023 soybean seeding being down 4.0 Mil acres – and the resulting drop in supplies/product stocks. Corn and wheat futures are rising…

AgResource Midday Commentary; CBOT Lower on Better Rain Forecast for the W and N Midwest; Crop Ratings Expected to Gain on Monday; Bull Spreading in Soyoil

CBOT grain futures are mostly lower at midday with traders expecting additional Midwest rain over the weekend with NASS crop condition ratings expected to increase on Monday (2-4% in the GD/EX category). The July 4th holiday on Tuesday has caused traders to slowly return to taking on risk, and traders like being on the sell…

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…