AgResource Farm Marketing Advice for Thursday: 1/ No new advice. Midday CBOT values are mixed, with corn and wheat steady/higher and beans lower as oil/oil share corrects on weakness in crude. Spot WTI crude at midday is down $.60/barrel at $84.85. Energy markets are overbought and last week’s counter-seasonal modest build in inventories has paused…
AgResource Farm Marketing Advice for Wednesday: 1/ No new advice. Midday CBOT values are again mixed, with wheat up 10-12 cents, corn following and soybeans trading both sides of unchanged. A reversal of macro sentiment, a weaker US dollar specifically, has provided a pillar of support to the raw material space as the USD index…
Midday CBOT values are mixed with the grains lower while the soy complex bounces. Selling in corn futures developed on news that China may be slowing its corn import pace, but more importantly on the open planting window that is offered across the Midwest after April 12th. Warmer Central US temperatures and sunny skies are…
Midday CBOT values are red in a correction of Thursday’s post NASS crop report rally. Central US weather forecasts are favorable, and the NASS crop progress report is expected to show improved winter wheat conditions relative to prior years later this afternoon. And the bears argue that NASS will find acres by the late June…
The USDA March Stocks finals held few surprises compared to ARC estimates. NASS forecast March 1st US corn stocks at 8,347 Mil Bu, 7 Mil Bu less than the ARC forecast, but 85 Mil Bu less than the average trade estimate. ARC calculates a Q2 corn feed/residual use rate of 1,559 Mil Bu, up 129…
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