AgResource Midday Commentary

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…

AgResource Midday Commentary; CBOT Corn Sinks to New Low at $4.11 March; Brazilian Soy Crop Estimates Edge Lower; GFS Midday Forecast Like Overnight Run

CBOT grain markets are lower at midday with speculative selling felt early in the 8:30 AM CT CBOT reopening in corn, soyoil and soybeans. Speculators appear to be less willing to pressure wheat until more is known about new US economic sanctions that will be placed on Russia on Friday by the Biden Administration. March…

AgResource Midday Commentary; Higher at Midday, but off the Opening Rally; Soyoil Tests Prior Bottom while US soymeal rallies on an Export Sale; GFS Similar to the 0Z Run

CBOT grain markets are higher at midday. Corn, soybean, and wheat futures are bouncing from an oversold technical condition while soyoil is seeing pressure from oil share spread unwinding and a new US daily soymeal export sale. CBOT values have fallen sharply in recent months with prices sitting at multi-year lows with funds/managed money holding…

AgResource Midday Commentary: CBOT Mixed in Thin Pre Holiday Trade; Soybeans Rise on Brazilian Ag Ministry Talk that Crop under 145 MMTs; GFS South American Forecast Little Changed

CBOT grain markets are mixed at midday. March Chi wheat tested long term chart support below $5.60/Bu with prices sagging. The USDA Outlook Forum concludes in a few hours with a long US holiday weekend ahead. China will return from their weeklong Lunar New Year Holiday on Monday amid the hope for additional government stimulus…

AgResource Midday Commentary: CBOT Sinks to Fresh Lows in Corn/Soybeans On Large USDA Stocks; NOPA Reports Record January Crush

CBOT grain markets have been mixed through the morning, with large fund selling noted on a lower morning open. Once that buying was filled, CBOT grain markets drifted lower off the highs, leaving corn, wheat, and soybean markets in the red at midday. The soy product markets have been mixed with a burst of fund…