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 –…

AgResource Midday Commentary; CBOT Sharply Lower on the Fear of Brazilian Soybean/Corn Imports; Midday Kansas/Nebraska Forecast Drier; Ukraine Grain Corridor Breakdown

Traders are Focused on Brazilian soy basis weakness and net long position of funds in soybeans/soymeal; Talk of Brazilian soybean and corn importation into he US has rattled the bulls; The May/July corn spread blows out to $43.75 premium on Midwest cash strength; CBOT prices are a war between US cash tightness and South American…

AgResource Midday Commentary; Funds Liquidate Soy/Soymeal Position; Midday Rain Farther East in the Plains; Regionalization of World Grain Supplies

CBOT futures are sharply lower at midday with KC wheat/July corn pacing the decline as the forecast of meaningful rain is offered for the Southern and Central Plains for the first time in months. How much good the rain will do for HRW wheat yields is being hotly debated in the industry. ARC would point…