AgResource Midday Commentary; Midwest Drought Builds With 45% of corn and 39% of the Soybeans Involved; Soyoil Rallies above its 50 Day Moving Average for the 1st time Since February; Cash Corn/Soybeans Stay Strong

Slightly higher are CBOT grain futures as the midday GFS forecast has shifted drier and now is more like overnight EU weather model as the amount of crop that are involved in the 2023 flash drought continue to grow. The US Drought Mitigation Center Indicated that 45% of the US corn and 39% of the…

AgResource Midday Commentary: Soy Complex Finds Support on Global Demand; Midday GFS Maintains Needed Midwest Rainfall; US Ethanol Production Rising Seasonally

AgResource Farm Marketing Advice for Wednesday: 1/ No New Advice.                                             CBOT ag markets are mixed but mostly lower at midday. The break in grains has been led by high-protein wheat contracts, and while there’s no specific catalyst for renewed selling there is news suggesting that flooding of the Danube River in Ukraine won’t impact nuclear…

AgResource Midday Commentary; Midday GFS drier in 6-10 day Period for E Midwest; Spain Buys US Soybeans to Send the Oil back to US on RD; EPA to Exclude eRINs

CBOT grains are mixed at midday with July soyoil holding above the 20-day moving average at $.4875 and rising to $.5074 (highest price since May 12th) while corn/wheat futures have traded in a wide range on fundamental battles between improving Central US weather forecasts and heightened war concern between Russia/Ukraine. Nearby, crop stress is ongoing…

AgResource Midday Commentary; Midday GFS Wetter at Midday for SE Midwest/Delta; CBOT Option Volatility Rate Under Pressure; Goldman Roll Starts Wednesday

Following an active opening, low volume amid uncertain Central US weather has left CBOT grain futures to chop. CBOT values are mixed at midday with traders debating weather/yield, old crop basis strength and a Saudi wheat purchase of optional origin wheat. NASS will be out with their weekly crop progress and condition report which will…

AgResource Midday Commentary; CBOT Futures Recover at Midday; GFS Forecast Drier for E Midwest into June 15th, Soybeans Score Weekly Reversal

CBOT grain futures have fluctuated wildly with soybean futures leading the upside charge amid the fear of deepening Midwest/Delta dryness. Soybeans have paced the upside rally on talk of Chinese pricing and limited cash sales from Brazil/Argentina. The Dollar Peso Argentine soybean sales program ended yesterday with cash merchandisers explaining that farmers there have virtually…