AgResource Mid-Day Commentary; CBOT Retreats After Early Fund Buying;Corn/Soy Futures Fall from Chart Resistance; Black Sea/ Brazilian Corn Not Following

CBOT futures opened sharply higher following the announcement that China had booked over 500,000 MTs of US new crop soybeans amid the left-over bullishness from technical/chart based considerations. December corn and November soybeans tested key resistance at $6.75 and $14.85 before retreating. Futures are well off their highs at midday. Traders are awaiting the Jackson…

AgResource Mid-Day Commentary: CBOT Rallies Sharply Following Day One Pro Farmer Estimates; Macro Markets Lend Support; US Forecast Largely Favorable

AgResource Farm Marketing Advice for Tuesday: 1/ Corn Producers: Price the last of the 2021 crop that was set on a September corn basis contract at $1.20 over at $6.50 basis September corn futures. This would produce a net cash price of $7.70. ** FILLED **                  2/ Soybean Producers: Sell another 20% of 2022 soybean…

AgResource Midday Commentary; China Secures 5 Cargoes of French Wheat; September Futures Lead the Rally on Cash Strength; GFS Wetter at Noon

AgResource Farm Marketing Advice for Monday: 1/ No new Advice. CBOT Grains are higher on talk that China booked 5 cargoes of French wheat while soybeans rally on US soymeal demand amid thinning Argentine fob offers. The hefty premiums paid for US old crop soybeans/corn is underpinning valuations. If corn end users (livestock/ethanol) can make…

AgResource Mid-Day Commentary; Wheat Tries to Regain Thursday’s Losses; Spot cash Corn/Soybean Bids Hold at Record Highs; GFS Wetter for the Lake States

CBOT Grains Higher at midday with wheat being the upside leader in lackluster volume. Corn follows wheat while soybeans trims losses on strong old crop cash market. End users and exporters fight for remaining old crop supply amid a Delta harvest that will be delayed by the coming wet weather conditions. The hope for any…

AgResource Mid-Day Commentary: Global Wheat Markets Shed Premium; Row Crops Supported by Uptick in Export Demand

AgResource Farm Marketing Advice for Thursday: 1/ No New Advice. Wheat market finds new lows for move on Black Sea headline-based liquidation. Uptick in new crop export demand support corn, soy. Reality of Black Sea’s contribution to global grain flows still very uncertain. Global wheat futures are down sharply – though have bounced from session…