Sunday Commentary

Lower To Stat Holiday Week: Awaiting USDA Outlook Forum

Feb 20, 10:17 am | Sunday Commentary

** AgResource Pre Opening Monday CBOT Market Calls: Soybeans 1-3 cents lower, corn steady to 2 cents lower with wheat called 1-2 cents lower.  ** Monday Weather & Market Comment Discussion: The CBOT is closed for the President’s Day Holiday, but it will reopen at 7:00 PM this evening.   Pre-opening CBOT grain calls are slightly lower. The Brazilian soy harvest continued to expand (strong yields reported) while weekend Argentina rainfall totals were not as wet as expected. Key Argy crop areas missed the flooding rains, which should help maintain their mostly good to excellent condition. Moreover, Friday’s COT report showed that funds piled into larger than expected net long positions in corn, soybeans, and soymeal, while holding their smallest…

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