AgResource Midday Commentary; CBOT Rallies on Growing Midwest Dryness; Rally Stalls on Wetter Midday GFS forecast for Tennessee/Kentucky on Back Door Cold Front

CBOT grain futures are adding premium for dry Midwest/Delta weather and the potential adverse impact on crop yield. Illinois, Indiana, and E Iowa producers report widespread corn rolling in the Midwest and poor germination of mid-May (and after) soybean seeds. The point is that from Central Iowa and Missouri eastward into the Ohio Valley –…

AgResource Midday Commentary; CBOT Recovers on Crude Oil Recovery; Debate on Midwest Weather Suggests Yield Ding on Heat/Dryness; Russia Restricts Ukraine Black Sea Grain Flow

CBOT futures have traded both sides of unchanged with early Chinese pricing of soybeans helping to support a better than expected 8:30 AM CT opening. Fund short covering was noted on reopening on oversold technical conditions and the $1.75 bounce in the crude oil market. The macroeconomics of the Chinese and world economy are the…

AgResource Midday Commentary; CBOT Corn, Soybean and Wheat Futures Sag on the Hope for a US Weather Pattern Change in Mid June.

Bearish demand fears and hope for Midwest rain in the week 3 Central US weather forecast (CFSv2) has punished CBOT values. Corn, soybean, and wheat futures are all posting sharp losses with November soybeans falling to new low for the spring decline at $11.5725. July Chi wheat also posted a new spring low at $5.8875.…

ARC Midday Commentary; CBOT Higher On the Addition of Weather Premium to Price; Midday GFS Model Delayed – No Real Change in the Pattern Next 10 Days; Midwest Cash Corn Bids Strong; CA Proposition 12

AgResource Farm Marketing Advice for Friday: 1/ No New Advice. AgResource will release our weekend wire this PM ahead of the US Holiday. CBOT Ag markets are higher at midday on the hope that President Biden and the US House can cobble together a 2-year Debt Ceiling Pact amid threatening Midwest/Delta weather forecasts. The CBOT…