AgResource Midday Commentary; on Annual Anniversary of ’22 CBOT Wheat Price High – Grain Futures Fall Sharply on China Corn Cancelations and 2 Month Ukraine Corridor Extension

CBOT ag markets are sharply lower in active volume on massive fund speculative selling and liquidation. Corn/wheat have paced the decline on the news that China canceled another 272,000 MTs of US corn and that the UN/Turkey and Russia was able to cobble up a 2-month extension of the Black Sea Grain Corridor. A brief…

AgResource Midday Commentary: New Crop Corn, Soy Fall to Newer Lows; GFS Stays Optimistic on Plains Precip; Macro Input Leans Negative

AgResource Farm Marketing Advice for Tuesday: 1/ No new advice. CBOT ag markets are mostly lower, with any AM strength confined to KC & Minneapolis wheat. This week’s tour of Kansas so far has found decent yield potential in the center and east of the state, but there’s no indication yet that NASS’s deep cut…

AgResource Midday Commentary: Wheat Leads CBOT Rally; Dryness in Canada, Eastern Russia Need Monitoring; NOPA Soy Crush Record for April but Shy of Expectation

AgResource Farm Marketing Advice for Monday: 1/ No new advice. CBOT ag markets are sharply higher at midday as the rest of the world fully digests bullish USDA wheat data, and as South America’s cash soy market – which had been the bearish lynchpin in March and April – is shifting rapidly. Corn is following.…

AgResource Midday Commentary; Argentine Financial Worry Emboldens Farmers To Hold Tight to Crops: US Weekly Export Sales Slow; Ukraine Grain Corridor Confusion

US weekly export sales were as slow as feared; CONAB raises ’23 Brazilian soybean and corn crops slightly to new records; Fear is growing that Argentina is in a financial “pickle” due to soaring inflation and a sharp decline in hard currency as Argentine farmers hold fast to this year’s harvest with the Soy Dollar…