AgResource Midday Commentary; Slow and Mixed are the CBOT at Midday; Wheat Rallies on Black Sea Dryness and Fund Short Covering; Brazilian Real Weakens

Mixed are CBOT values at midday with corn/wheat higher while soybeans sag on the rise in Brazilian cash soybean sales due to the faltering real. The Brazilian real has been recently edging lower vs the US dollar with the rate being 5.035:1 USD which has helped boost Brazilian cash soybean harvest sales. The real had…

AgResource Midday Commentary; Wheat Bounces from Early Session Selling on Rising Russian FOB Offers; Soybeans Sag on Weak Brazilian Premiums; GFS Midday is Wet for N and C Brazil.

CBOT values are mixed at midday with wheat futures rising while the soy complex sags. Soyoil has been the downside price leader as Friday’s rally stopped just short of $.50/pound basis May and selling returned. CBOT traders are awaiting the EPA update on their GREET model and how it will impact corn and soyoil demand…

AgResource Midday Commentary; February NOPA Crush Record Large with Soyoil Stocks Seasonally Improving; GFS Wetter for the US Plains in Week 2 Forecast; China to Auction off Reserve Soybeans

CBOT values are mixed at midday with corn prices higher while wheat/soybean values sag. Managed money selling of wheat futures is noted while yesterday’s buyers of soybeans are today’s sellers. Brazilian soybean premiums have sagged throughout the week as farmers shed the new crop supply on the CBOT rally. However, fob Brazilian soybean export offers…

AgResource Midday Commentary; CBOT Expectedly Retreats Following Early Soybean Rally; Brazilian Farmers Reward the Rally With Large Cash Sales; GFS Midday Model Wetter for S Brazil

It has been a vicious trading session into the midday hour with early chart based buying in soybeans/soymeal sparking a sharp post 8:30 AM CT rally. Soybean futures rallied to more than 20 cent gains with soymeal up $8.00/MT before hedge related selling emerged. Wheat and corn prices sagged on the cancelations of Australian wheat…

AgResource Midday Commentary: CBOT Chops, Above Session Lows; Crude Higher on Tightening Balance Sheet; Brazilian Weather Stays Concerning

AgResource Farm Marketing Advice for Wednesday: 1/ No new advice.  Paris milling wheat stays weak on reported Chinese cancellation of French purchases. CBOT markets off lows amid rising energy markets, searing heat in Central and Northern Brazil next two weeks. Soyoil stays firmly above 50-day moving average – and tests 100-day MA – following newer…