Wheat is a drag; Corn is the coming story; Soybeans caught with soyoil sagging on oil share profit taking. CBOT grain futures are mixed at midday with corn holding in the green, while wheat futures follow Paris futures lower as Russian 12.5% wheat sags to $209/MT. The Russians have been aggressive in shedding old crop…
CBOT grains are higher at midday. Short covering and selective speculative buying rallied CBOT futures ahead of March 1st notice day on Thursday. ARC suspects that short covering could lift CBOT valuations into Wednesday with actual delivery intentions than determining if a correction is needed later in the week. A seasonal low has likely been…
CBOT grain markets are mixed at midday. US wheat futures recovered from a lower opening, but corn/soybeans are holding in the red on fresh speculative selling and ongoing farm basis contract rolling/liquidation. 1st notice day against March futures is Thursday, and most elevators are demanding that US farmers have their cash March basis contracts cleaned…
New Advice for Livestock Feeders or those Producers Wanting to Replace cash corn sales: AgResource Farm Marketing Advice for Friday: 1/ Livestock Feeders or those wanting to replace cash corn sales; Buy September $4.60 calls and sell $4.00 puts at a cost of 8.50 cents or less. For livestock producers, we would cover 50% of…
CBOT grain markets are mixed at midday. Chicago wheat rallied smartly following the 8:30 CT reopening with March Chicago reaching psychological resistance at $6.00. The sharp rally in wheat pulled corn into the green with soybeans/soymeal sagging on weakening Brazilian paper trade with March Paranagua said to be trading at -$.80/Bu vs the CBOT. ARC…
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