AgResource Midday Commentary: Wheat Tests $6.00 on Wetter Plains Forecast; US Warmth Accelerates Row Crop Seeding Beyond Next 5 Days; Crude Weak at Midday

AgResource Farm Marketing Advice for Monday: 1/ No new advice. CBOT ag markets are mixed, with soy and old crop corn steady to higher and wheat sharply lower on hints of additional Plains rainfall in the 8-15 day period. The models are odds of forecast details beyond the next 5-7 days, but both the EU…

AgResource Midday Commentary; CBOT Bounces as End of Month Selling Abates; May Day Holiday Monday; Brazilian Soybean Basis in Recovery

AgResource Farm Marketing Advice for Friday: 1/ Livestock Producers: Bought Dec corn at $5.29 to cover 50% of corn feed needs into the end of the year. Long Holiday Weekend Ahead for World Traders on May Day; Brazilian Cash Soyoil Basis Firms; EPA  Announced Summer E15 in US Fuel, Choppiness with End Users Seeing Value…

AgResource Midday Commentary: CBOT Plunge Continues as Longs Capitulate; Weekly Export Sales Unexciting; GFS Keeps Midwest Cold in Place into May 6

AgResource Farm Marketing Advice for Thursday: 1/ Livestock Producers: Bought December corn at $5.39 to cover 50% of corn feed needs into the end of the year. Place another order at $5.29 to cover the next 50%. CBOT ag markets are sharply lower at midday on continued selling and liquidation. It’s a “Get Me Out”…

AgResource Midday Commentary; May soymeal drops below 200 Day Moving Average; Stats Canada Calls for 1.3 Mil extra acres of Spring Wheat; US weekly Ethanol Production Sags

CBOT ag markets are lower at midday with May soymeal futures falling below its 200-day moving average for the 1st time since October. The drop below the 200 day has produced additional long liquidation with July soybeans already trading well below their 50/100/200 day moving averages. The breaking of a key soymeal support level sparked…

AgResource Midday Commentary: CBOT Weak but Off Session Lows at Midday; Midwest Stays Cold Next 10 Days; Macro Market Input Leans Negative

AgResource Farm Marketing Advice for Tuesday: 1/ Wheat Producers: Sell another 20% of the 2022 wheat crop if May Chi wheat reaches $8.02. CBOT ag markets are lower at midday but wheat, corn and soy have recovered moderately from AM lows. The collision of needed rainfall in the Southern Plains – which is imminent –…