AgResource Mid-Day Commentary; Central US Weather Goes Drier/Warmer/ China Purchasing US Corn, Sorghum, Wheat? Russian Wheat Export Taxes?

US Grain Demand Rumors, Russian Export Doubt and Crude Oil Recovery. CBOT grain futures are sharply higher at midday in a recovery of the lashing of prior trading days. Improved US export demand, strong domestic biofuel margins and concerning Central US weather forecasts have combined to lift CBOT values. Wheat has paced the recovery with…

AgResource Mid-Day Commentary; Midday GFS More Threatening Amid Warm/Dry Central US Weather; Paris Wheat Fills Open Gap; Crude Oil Tries to Recover

AM Rally Failed on Additional Macro Economic Selling! Midday GFS Forecast Warmer/Drier CBOT grain futures are under pressure at midday with an early rally effort failing amid new selling in the energy markets. WTI spot crude oil futures have fallen another $3.00/barrel to $96.00 which pulled a host of raw material markets lower. CBOT grains,…

AgResource Mid-Day Commentary; Recession Worry Increases as Fund Related Selling Increases Across All Asset Classes; Bottoms Are Formed on Fear

 The Sky is Falling! CBOT futures are sharply lower at midday with corn, soybean and wheat falling to double digit losses as a host of asset classes are in freefall. The US DOW has lost another 700 points amid growth/recession worry while crude oil has fallen to $98/barrel, down a sharp $9.00. Whether it be…

AgResource Mid-Day Commentary: Ag Market Slide Continues; Russian Wheat Export Tax Changes; GFS Trims Rainfall in IL

AgResource Farm Marketing Advice for Friday: 1/ No new advice. Global ag market liquidation persists despite rising energy & equity markets as underwater longs are being liquidated rather swiftly. Corn and wheat futures in the US and Europe are now below pre-Russian invasion levels. This makes little sense, but 3-months of market gains have been…

AgResource Mid-Day Commentary; NASS Report Bullish Soybeans on Seeding; Seasonal Lows in Corn/Wheat forming; Extreme Central US Heat Returning

NASS US Soybean Seedings Fall Further than Expected by 2.7 Mil acers; US Corn Seedings Up 400,000 acres with Spring Wheat Seedings down 100,000 acres.   The NASS Stocks/Seeding Report leaned bullish for soybeans with seedings down 2.7 Mil acres from the March Intentions, while corn acres were up 400,000 and Spring wheat seedings were…