All Members: Morning

Pre Weekend Short Covering on CoT report and World Weather Concern

Nov 17, 6:59 am | Morning Commentary

** 6:30 AM CDT CBOT Prices: January soybeans are up 3.00 cents at $9.75, Dec corn is up 1.25 cents at $3.3775, while Dec Chi wheat is up 2.75 cents at $4.2425.   ** AgResource AM Grain & Oilseed Comment: Good Morning! The CBOT trade started out mixed, but turned higher in AM hours. Too much rain for the E. Australian wheat crop, too dry of weather for Argentine summer row crops, and funds holding a record net short grain position produced the bounce.   The volume of trade was active in corn (over 26,000 contracts of December futures – mostly spreads) while being meager in soybeans and wheat (just over 7,000 contracts of January soybeans and just over 4,000…

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CBOT Corn Open Interest Surges; CBOT Mixed To Start

Nov 16, 6:48 am | Morning Commentary

** 6:30 AM CDT CBOT Prices: January soybeans are down 1.00 cent at $9.7525, Dec corn is unchanged at $3.3825, while Dec Chi wheat is up 1.75 cents at $4.2175.  ** AgResource AM Grain & Oilseed Comment: Good Morning! Diminished volume and mixed has been the overnight CBOT trade. Soybeans, corn and wheat have traded either side of unchanged. The volume of trade to date has declined to just over 8,500 contracts of December corn, just over 10,500 contracts of January soybeans, and just over 7,000 contracts of December Chi wheat.   Wednesday’s CBOT open interest reflected another rise of 12,268 contracts in corn, 3,292 contracts in soybeans, and 3,211 contracts in wheat. In soymeal, open interest was up a…

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CBOT Bounces Overnight; US Farmers Halt Cash Sales

Nov 15, 7:03 am | Morning Commentary

** 6:30 AM CDT CBOT Prices: January soybeans are up 4.50 cents at $9.7225, Dec corn is up .25 of a cent at $3.33775, while Dec Chi wheat is down 1.25  cents at $4.2675.  ** AgResource AM Grain & Oilseed Comment: Good Morning! The overnight CBOT trading session is mixed (again), a theme that has been evident since last week’s USDA Nov crop report. The volume of trade has expanded with more than 18,000 contracts of Nov soybeans, more than 22,000 contracts of Dec corn, and nearly 5,000 contracts of December Chi wheat changing hands.   CBOT corn and soybeans have been seeking lower values in the wake of the USDA report on fresh fund selling. On the other hand,…

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CBOT Mixed Overnight Amid A Lack of Fresh News; Argentine Dryness Bears Watching

Nov 14, 6:49 am | Morning Commentary

** 6:30 AM CDT CBOT Prices: January soybeans are up 1.00 cent at $9.7525, Dec corn is down .75 of a cent at $3.4175, while Dec Chi wheat is down .5 of a cent at $4.2375.  ** AgResource AM Grain & Oilseed Comment: Good Morning! Mixed and rather average volume has been the CBOT overnight. Corn, soybeans and wheat have traded either side of unchanged, with soybeans finding a bid on improved Chinese interest and firming domestic cash basis bids. The corn and wheat markets are slightly lower amid a lack of fresh US demand news.  There were 150 soybeans tendered for delivery against November in the last day of trade. No strong commercial stoppers are evident.  Monday’s CBOT open…

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Markets Down on Currencies; Slightly Wetter Brazilian Forecast

Nov 13, 7:13 am | Morning Commentary

AgResource Daily Farm Marketing Advice for Monday: 1/ Corn Producers: Sell 10% of the estimated ‘18 corn harvest at $4.01 basis Dec ‘18 futures. 2/ Corn Producers: Sell 10% of estimated ‘19 corn production at $4.17 basis Dec ‘19 futures. 3/ Corn Producers: Sell 15% if the 2017 corn crop if March ‘18 corn futures reach $3.72.    6:30 AM CDT CBOT Prices: January soybeans are down 1.75 cents at $9.855. Dec corn is down 1.0 cent at $3.4225, while Dec Chi wheat is down 5.0 cents at $4.265.   Good Morning! CBOT prices began the week a bit lower amid a slightly wetter forecast in Central Brazil this AM and as major exporter currencies are weaker. The Russian ruble has…

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CBOT Catches Breath Following USDA Report; Values Little Changed Overnight

Nov 10, 7:06 am | Morning Commentary

** 6:30 AM CDT CBOT Prices: January soybeans are down .50 of a cent at $9.8425. Dec corn is unchanged at $3.415, while Dec Chi wheat is down 1.25 cents at $4.2775.  ** AgResource AM Grain & Oilseed Comment: Good Morning! CBOT prices are mixed and little changed following an active night of trade in corn, with more normal activity in soybeans and wheat. Much of the corn volume was spreading and it did not have a sizeable impact on flat price.   Thursday’s CBOT open interest was up a big 25,915 contracts in corn, up 12,029 contracts in soybeans, and down 8,133 contracts in wheat. Funds piled into a larger net short position following Thursday’s bearish November crop report….

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Awaiting USDA November Crop Report; Trump in China Boosts Soybeans

Nov 9, 6:58 am | Morning Commentary

** 6:30 AM CDT CBOT Prices: January soybeans are up 4.00 cents at $10.0225, Dec corn is unchanged at $3.485, while Dec Chi wheat is up .50 of a cent at $4.27.  ** AgResource AM Grain & Oilseed Comment: Good Morning! It’s USDA Crop Report Day when the most active volume of the month is expected for CBOT corn, soybeans and wheat. Traders and funds gear up to trade the USDA report (and the day following) with volume often sagging thereafter into the US Thanksgiving Day holiday. CBOT values overnight are mixed with soybeans continuing to gain on the grains. Funds favor long soy vs short grains.   A push above last week’s high of $10.005 in January soybeans has fueled…

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President Trump Arrives in China; Market Awaits GASC and USDA November Report

Nov 8, 6:55 am | Morning Commentary

** 6:30 AM CDT CBOT Prices: January soybeans are up 2.00 cents at $9.9775, Dec corn is down 1.0 cent at $3.4675, while Dec Chi wheat is down 2.50 cents at $4.2475.  ** AgResource AM Grain & Oilseed Comment: Good Morning! Pre report positioning has created a mixed CBOT in the early AM hours. Funds continue to push their long soybean/short grain spread position as traders bet on a decline in the 2017 US soybean yield and an increase in corn.   A push above last week’s high of $10.005 in January soybeans is likely to fuel additional chart based buying, while a push below last week’s low ($3.4525) in December corn would fuel additional chart based selling. The spot…

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Tuesday Turnaround Awaiting the USDA November Crop Report

Nov 7, 7:05 am | Morning Commentary

** 6:30 AM CDT CBOT Prices: January soybeans are down 2.25 cents at $9.9175, Dec corn is down .75 of a cent at $3.4725, while Dec Chi wheat is down 3.25 cents at $4.275.  ** AgResource AM Grain & Oilseed Comment: Good Morning! The overnight CBOT trading session started out mixed to slightly higher in soybeans, but the trade turned lower in the AM hours in typical Turnaround Tuesday fashion.   The volume of trade to date is just over 8,500 contracts of December corn, just over 10,000 contracts of January soybeans, and just over 6,000 contracts of December Chi wheat – below recent day volume totals.   Preliminary CBOT open interest totals for Monday show a 8,203 contract drop…

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Cattle To Follow Through on Friday’s Gain; South American Weather Improved for Now

Nov 6, 7:02 am | Morning Commentary

** AgResource Daily Cattle Analysis: Cattle futures marked strong gains last week and a firm outlook is offered for early trade this week. The cattle market was initially higher last week from the previous week’s cash market gains, and finished the week strong on yet another jump in the week’s negotiated business.   The cash market was again sharply higher last week. Initial trade was slow and quoted $3 higher at $120, but sales jumped another $5 higher to $125 late in the week. The beef market traded firm through the week, but did not keep up with the cattle trade. The choice value marked gains against select. Choice boxes were up $5.44 for the week at $208.74 and select…

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