All Members: Morning

Mixed CBOT Trade Heading into Long US Holiday Weekend; Central US Weather is Warmer

May 26, 6:59 am | Morning Commentary

**Administration Note: AgResource will be releasing our Weekend Report this   afternoon to afford more time to our employees for the Memorial Day Holiday. ** 6:30 AM CST CBOT Prices: July soybeans are down 2.00 cents at $9.3725, July corn is up .50 of a cent at $3.6925 while July Chi wheat is up .50 of a cent at $4.3125. ** AgResource AM Grain & Oilseed Comment: Good Morning! It is another night of mixed and low volume trade as CBOT corn, soy and wheat futures trade either side of unchanged. Just over 7,000 contracts of July corn, 13,000 contracts of July soybeans, and just over 3,500 contracts of July Chi wheat have changed hands. Most traders will be squaring a…

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Central US Weather Forecast Improves; Will the CBOT follow With Weakness?

May 25, 7:05 am | Morning Commentary

** 6:30 AM CST CBOT Prices: July soybeans are up 2.00 cents at $9.5025, July corn is up 1.25 cents at $3.725 while July Chi wheat is up 2.00 cents at $4.345.  ** AgResource AM Grain & Oilseed Comment: Good Morning! Slightly higher has been the overnight CBOT trade with corn, soybeans and wheat holding in the green. The volume of trade has been curtailed by the approaching 3 day holiday weekend and the uncertainty surrounding the June Central US weather pattern.   Wednesday’s CBOT open interest totals reflect a 3,772 contract increase in corn, 4,873 contract bump in soybeans, and 288 increase in wheat. Funds likely continue to add to their already large next short holdings.   Traders will…

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CBOT News Lacking; Markets Adrift Awaiting June Weather Forecasts

May 24, 7:10 am | Morning Commentary

** 6:30 AM CST CBOT Prices: July soybeans are up .50 cents at $9.4875, July corn is up .50 of a cent at $3.70 while July Chi wheat is down .75 of a cent at $4.2875. ** AgResource AM Grain & Oilseed Comment: Good Morning! Mixed and little changed is the CBOT with fresh trade news lacking overnight. A long holiday weekend is ahead and traders are closely watching the Central US weather. Limited fieldwork will be completed across the Midwest this week, which makes the final days of May and opening days of June important.   The US model does offer drier weather conditions for the Plains/W Midwest on the weekend and next week before cool/wet weather returns in…

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CBOT Tuesday Turn Around: Traders Eye June Weather Forecasts

May 23, 7:05 am | Morning Commentary

** 6:30 AM CST CBOT Prices: July soybeans are down 4.75 cents at $9.5175, July corn is down 2.50 cents at $3.725 while July Chi wheat is down 3.00 cents at $4.3125.  ** AgResource AM Grain & Oilseed Comment: Good Morning! It’s Tuesday and CBOT values have turned around from recent day gains as the weekly NASS Crop Progress/Condition Report did not show any big surprises.    US Plain’s winter wheat ratings were better than expected, but otherwise, the NASS weekly report was benign. 84% of the US corn crop, 53% of the US soybean and 90% of the US spring wheat crops were planted. 52% of the US winter wheat crop was rated GD/EX, up 1% from the prior…

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CBOT Firm on Additional Cool/Wet Central US Weather; Watch the Brazilian Real

May 22, 7:07 am | Morning Commentary

** 6:30 AM CST CBOT Prices: July soybeans are up 3.00 cents at $9.56, July corn is up 1.50 cents at $3.74 while July wheat is up 3.25 cents at $4.385.  ** AgResource AM Grain & Oilseed Comment: Good Morning! The week has started out firmer at the CBOT with trader’s trying to balance world currency values and the ongoing cool/wet weather across the Central US.   The volume of CBOT overnight trade was near average with just over 15,000 contracts of July corn, just over 16,000 contracts of July soybeans, and just over 7,000 contracts of July Chi wheat changing hands.   Weekend rainfall was about as expected with some heavy totals of 1-3.00” falling across the E Plains/SW…

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Cool Weather To Persist Across Central US For Another 2 Weeks; Brazilian Tensions Ease

May 19, 6:55 am | Morning Commentary

** 6:30 AM CST CBOT Prices: July soybeans are up 7.00 cents at $9.5175, July corn is up 2.00 cents at $3.68 while July wheat is up 4.00 cents at $4.2975.  ** AgResource AM Grain & Oilseed Comment: Good Morning! The overnight CBOT trade is in recovery as combative presidents in the US and Brazil take center stage. In a 5 minute address to the nation, Brazilian President Temer argued for his innocence and promised a long fight against corruption charges. And at an afternoon press briefing, US President Trump denied involvement with the Russians and that certain democrats were on a “witch hunt”. Both Presidential comments have calmed currency markets, which following the sharp fall in CBOT soybean prices…

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Presidential Woes Move to Brazil; Central US Cold/Wet Into June 25th

May 18, 6:41 am | Morning Commentary

 ** 6:30 AM CST CBOT Prices: July soybeans are down 19.75 cents at $9.56, July corn is down 6.50 cents at $3.65 while July wheat is down 4.00 cents at $4.23.  ** AgResource AM Grain & Oilseed Comment: Good Morning! “Problems for Presidents” can best explain CBOT grain price action in the past few days.   US President Trump had a special prosecutor assigned late yesterday to look into claims of obstruction of justice and ties of his administration to Russia, while Brazilian President Temer was found in the crosshairs of his own potential impeachment process as he was recorded discussing payments to silence testimony by a potential witness in the country’s biggest graft probe with the chairman of JBS….

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US Summer Row Crop Planting Pushes Ahead; Causes CBOT Weakness

May 16, 6:35 am | Morning Commentary

** 6:30 AM CST CBOT Prices: July soybeans are down .5 of a cent at $9.6475, July corn is down 1.75 cents at $3.66 while July wheat is down 1.5 cents at $4.2175.  ** AgResource AM Grain & Oilseed Comment: Good Morning! CBOT prices are slightly lower following better than expected US corn and soybean planting progress last week. NASS reported that US farmers had planted 71% of their corn crop and 32% of their soybean crops. Both are right at 5 year averages and were a few percentage points better than traders had expected. No Midwest states were showing big seeding delays and the E Midwest will score additional good progress this week.  The CBOT will be dialing back…

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CBOT Mixed to Start the Week in Low Volume and Lack of Fresh News

May 15, 6:46 am | Morning Commentary

** 6:30 AM CST CBOT Prices: July soybeans are up 1.5 cents at $9.645, July corn is down .75 of a cent at $3.705 while July wheat is down 4.0 cents at $4.2875.  ** AgResource AM Grain & Oilseed Comment: Good Morning! Low volume and mixed has been the start of the week at the CBOT. Corn and wheat have traded mostly lower while the soybean market caught a bid and has posted modest gains on rising world tropical oil prices. The volume of trade has been low again with just over 8,500 contracts of July corn, just over 8,000 contracts of  July soybeans, and just over 7,500 contracts of July Chi wheat changing hands.   In world macro financial…

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