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,…

AgResource Midday Commentary: CBOT Correction Extended at Midday as GFS Features Drought-Busting Precip Accumulation; US Ethanol Production Stays Elevated

AgResource Farm Marketing Advice for Wednesday: 1/ No new advice.                                             CBOT ag markets have extended overnight weakness as radar maps show lite rain working across northern MO and into IL, and as the midday GFS continues to add to 10-day cumulative precip. US ethanol production remains seasonally strong, and margins have soared following the break…

AgResource Midday Commentary; Risk off Ahead of Month End with Midwest Rain Forecast Helping the CBOT Rout; GFS Stays Wet at Midday, Canadian Model Drier

Sharply lower CBOT grain futures exists at mid-session amid the prospect of improved Midwest rain starting this weekend and continuing next week. Rain makes grain and the market was able to look past the near record low crop ratings released late Monday.  Corn, soybeans, and wheat crops have suffered from record dryness since mid-May which…

AgResource Midday Commentary; GFS is Wetter in its Midday Run for C and E Midwest with .4-1.25″ of rain; NASS Crop Condition Ratings in Focus; Old/New Crop Spreads Rally on Order Flow

CBOT grain futures are firmer at midday, but well off their early morning rally high as uncertainty regarding US weather and key USDA crop reports later this week dominate trading activity. Few want to chase a CBOT rally or a break, leaving price to chop sideways until more information is available. Soyoil appears to be…