All Members: Morning

CBOT Mixed as Traders Try to Gauge US Corn Seeding Progress

Apr 21, 7:02 am | Morning Commentary

** 6:30 AM CST CBOT Prices: May soybeans are up 2.50 cents at $9.4925, May corn is down .50 of a cent at $3.5725 while May Chi wheat is down .75 of a cent at $4.055. ** AgResource AM Grain & Oilseed Comment: Good Morning! The overnight CBOT trade has been mixed in solid volume. More than 17,000 contracts of July soybeans, more than 20,000 July soybeans and more than 14,000 contracts of July Chi wheat has changed hands. The overnight volume is 50% better than in recent days.   Thursday’s CBOT open interest was up more than 22,332 contracts in corn, down 4,260 in soybeans, and up 16,214 contracts in Chi wheat. In KC wheat, open interest was up a…

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CBOT Chop Continues Awaiting Weather Updates

Apr 20, 7:09 am | Morning Commentary

** 6:30 AM CST CBOT Prices: May soybeans are up 3.00 cents at $9.5325, May  corn is up 1.50 cents at $3.6325 while May Chi wheat is up 1.25 cents at $4.2025.  ** AgResource AM Grain & Oilseed Comment: Good Morning and Chop/Chop! It has been another mixed overnight CBOT trade with corn, soybeans and wheat holding within their prior ranges. Wheat has bounced from its prior lows while corn and soybeans are still reacting to wet Midwest weather forecasts.  A mixed to mostly higher trade session is expected today.   CBOT open interest totals were down sharply on Wednesday with corn off 17,092 contracts, soybeans off 14,953 contracts while Chi wheat up 3,280 contracts. ARC calculates that funds are near or…

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CBOT Mixed to Start; Lacking Fresh News

Apr 19, 7:16 am | Morning Commentary

** 6:30 AM CST CBOT Prices: May soybeans are up 4.75 cents at $9.5075, May corn is up .50 of a cent at $3.6175 while May Chi wheat is down .50 cents at $4.22. ** AgResource AM Grain & Oilseed Comment: Good Morning! “Chop/Chop”! It has been another mixed overnight CBOT trade with corn, soybeans and wheat holding within their prior ranges. The volume of trade has been rather average.   AgResource doubts that any sustained price trends are in the offing until more is known about the coming Northern Hemisphere grain and oilseed crop size. The market rises and falls amid the 2 week spring weather forecast, but sustained price trends need to help confirm 2017 summer row crop yield trends.  …

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CBOT Mixed as Traders Debate Weather

Apr 18, 7:09 am | Morning Commentary

 ** 6:30 AM CDT CBOT Prices: May soybeans are down 4.00 cents at $9.4925, May  corn is up 1.00 cent at $3.675 while May Chi wheat is up 1.50 cents at  $4.225.  ** AgResource AM Grain & Oilseed Comment: Good Morning! It has been another night of mixed CBOT trade in rather average volume. The grains appear to be correcting on the soy complex with soyoil down amid the fall in Malaysian palmoil futures to a fresh 8 month lows.   Spot Malaysian palmoil is getting close to our long held downside price target of $2500 ringgits/MT. This price should support the market until more is known about US and EU biofuel policies. ARC sees the odds as high that the US…

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Mixed CBOT Overnight; Midwest Weather Debate

Apr 17, 7:03 am | Morning Commentary

** 6:30 AM CST CBOT Prices: May soybeans are up 1.00 cent at $9.565, May corn is down 1.00 cent at $3.70 while May Chi wheat is down .50 of a cent at  $4.2925. ** AgResource AM Grain & Oilseed Comment: Good Morning! CBOT futures started the week firmer, but turned mixed overnight on a lack of fresh news and reports of sporadic corn planting in the S and E Midwest. Soybeans were better supported than the corn market with funds estimated to be net short. The volume of trade has been average with just over 10,000 contracts of May corn and just over 18,000 contracts of May soybeans changing hands.   Preliminary CBOT data from Thursday’s trade shows that funds…

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Wet Central US Weather as Trump Seeks a Weaker US Dollar

Apr 13, 6:26 am | Morning Commentary

** 6:30 AM CST CBOT Prices: May soybeans are up 10.00 cents at $9.5725,  May corn is up 1.75 cents at $3.7075 while May Chi wheat is up 1.75 cents at $4.35.  ** AgResource AM Grain & Oilseed Comment: Good Morning! CBOT futures are firmer overnight as the US dollar declines (President Trump’s comment for a weaker greenback) while soymeal demand in domestic China remained strong. The volume of CBOT trade has been moderate. ARC would remind clients that CBOT futures will be closed on Friday for the coming Easter Holiday weekend.     For the holiday shortened week, CBOT corn is up 2.5 cents, soybeans are up 16 cents, while wheat is up 11 cents. Soybean/soymeal futures are forging a weekly…

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CBOT Recovers in Post USDA Report Reaction

Apr 12, 7:19 am | Morning Commentary

** 6:30 AM CST CBOT Prices: May soybeans are up 6.00 cents at $9.4525,  May corn is up .5 of a cent at $3.67 while May Chi wheat is up .5 of a  cent at $4.335.  ** AgResource AM Grain & Oilseed Comment: Good Morning! CBOT futures have recovered overnight with soybeans taking the lead on a corrective bounce following the April USDA Crop report. That report was deemed as slightly bearish, but much of that bearish South American supply news was known.   The focus of the CBOT is now squarely on the Central US and world weather. Traders are betting that a key area will endure a weather threat at some point in the next 6-8 weeks. Such a…

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CONAB Crop Estimates Not as Big as Feared; Next Up, USDA

Apr 11, 7:22 am | Morning Commentary

** 6:30 AM CST CBOT Prices: May soybeans are up 2.00 cents at $9.4375,  May corn is down .75 of a cent at $3.6625 while May Chi wheat is down 1.00  cent at $4.2775. ** AgResource AM Grain & Oilseed Comment: Good Morning! The April USDA crop report will be released later this morning with CBOT corn, soybean and wheat prices trading mixed overnight. Weather remains the big worry for US spring seeding with excessive wet weather slated for the next few weeks.    ARC looks for mixed CBOT price action into the WASDE report with values to focus on US/world weather following its release. The CBOT will be closed for the Good Friday holiday, and coming back after the Easter Holiday…

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Central US Weather Forecast is too Wet; Support for corn to start the Week

Apr 10, 7:09 am | Morning Commentary

** 6:30 AM CST CBOT Prices: May soybeans are up 3.75 cents at $9.4575,  May corn is down .75 of a cent at $3.595 while May Chi wheat is down 1.25 of a cent at $4.2275.  ** AgResource AM Grain & Oilseed Comment: Good Morning! The week started out firmer, but turned mixed overnight in rather average volume. The USDA April crop report looms on Tuesday with Brazil’s CONAB to update their crop estimates tomorrow morning.   Traders are braced for a further boost to USDA 2016/17 end stocks and still larger Brazilian corn and soybean crop estimates. The average trade US 2016/17 corn stocks estimate is 2,350 Mil Bu, the average US wheat end stock estimate at 1,150 Mil Bu with…

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News Lacking as Traders Look to the Weekend

Apr 7, 7:09 am | Morning Commentary

** 6:30 AM CST CBOT Prices: May soybeans are down 2.00 cents at $9.395, May corn is unchanged at $3.6075 while May Chi wheat is down .5 of a cent at $4.2275. ** AgResource AM Grain & Oilseed Comment: Good Morning! Steady to mostly lower has been the CBOT as the US missile strike on Syria sparked modest selling overnight that pushed soybeans to new lows. Corn and wheat tried to follow, but speculative selling interest is much less here.  The volume of trade has been rather average with just over 11,500 contracts of May corn, and over 9,700 contracts of May soybeans, and just over 4,500 contracts of May Chi wheat changing hands.   Thursday’s CBOT volume totals showed further gains…

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