AgResource Midday Commentary; Wheat Sags and Soymeal Soars on Argentine Weather; Divergent Price Trends Awaiting the USDA Report on Wednesday; CONAB out Thursday

CBOT grain values are mixed at midday with corn/wheat/soyoil values lower while soybean/soymeal futures are higher. May soymeal futures has pushed to a new contract high of $494.70/ton on the ongoing acute drought impacting the Argentine soybean crop. On the other hand, the Chicago wheat market has pushed to its lowest price since September 2021…

AgResource Midday Commentary; Following Early CBOT Rally – Choppiness Returns as Demand Confirmation Needed; GFS Midday Stays Dry for Argentina; US Crush Margins Record High for March

CBOT grain values are mixed at midday with traders trying to be careful about buying strength or selling weakness ahead of next Wednesday’s USDA March Crop Report. The past 3 months of CBOT price action has trained traders to patient in their market movements which is causing prices to be more volatile on daily basis.…

AgResource Midday Commentary; Rumors of Chinese Purchases of US Sorghum/Corn Swirl; Russia Says No Deal on Black Sea Corridor Without Unfettered Russian Ag Trade

It has been a mixed morning at the CBOT with corn/wheat sagging to new lows for the decline while soybeans/products hold in the green. The volume of trade has been active with funds aggressive on the sell side of the grains, while Chinese pricing in Brazil has placed a bid under CBOT soybeans. ARC looks…