CBOT Rally Accelerates in New Year; Fund Managers Add to Market Length on Sinking US Dollar; Argy Weather Dry

AgResource Farm Marketing Advice for Monday: 1/ Wheat Producers: Exit 25% of 2021 wheat hedges basis July Chi futures at $5.86.  2/ Corn Producers: Take profits on short March $4.00 corn puts at $.0075/Bu to reduce risk. This short put was entered to cheapen the price of long $4.20 March calls to replace 40% of…

Argentine Gov’t Blocks New Corn Sales into March 1st: China Soymeal Futures to New Historical Highs; Argentine Drought to Worsen into Mid-January

AgResource Farm Marketing Advice for Thursday: 1/ Wheat Producers: Exit 25% of 2021 wheat hedges basis July Chi futures at $5.86. ARC is uncomfortable with being 50% sold in new crop wheat amid the struggling Russian crop.  2/ Corn Producers: Take profits on short March $4.00 corn puts at $.0075/Bu to reduce risk. This short…