AgResource Midday Commentary; Sharp Rally on Worrisome Central US Weather; Prevent Plant Date for Corn on May 25th; Plains Corn Basis Stays Strong

“Risk On” is the theme on Central US Weather Forecast Concern: Prevent Plant Estimates Rise for the Dakotas/N Minnesota; Central US Cash basis Strength, World Crush Margin Expansion on new US soymeal demand; Unlike CBOT sessions late last week, it appears that today’s strength should hold. CBOT futures rose to sharp midday gains amid speculative…

AgResource Midday Commentary: CBOT Corn Stays Firm; Long Liquidation Persist in Hi-Pro Wheat Market; Dow Falls As US Debt Ceiling Negotiations Pause

AgResource Farm Marketing Advice for Friday: 1/ No new advice. CBOT ag markets are mixed, with corn so far holding overnight gains, while long liquidation continues in KC and Minneapolis wheat and soy’s caught in between. The KS wheat tour’s results have passed, triggering a modest ‘sell the fact’ rally in high-protein markets. Spotty showers…

AgResource Midday Commentary; on Annual Anniversary of ’22 CBOT Wheat Price High – Grain Futures Fall Sharply on China Corn Cancelations and 2 Month Ukraine Corridor Extension

CBOT ag markets are sharply lower in active volume on massive fund speculative selling and liquidation. Corn/wheat have paced the decline on the news that China canceled another 272,000 MTs of US corn and that the UN/Turkey and Russia was able to cobble up a 2-month extension of the Black Sea Grain Corridor. A brief…

AgResource Midday Commentary: New Crop Corn, Soy Fall to Newer Lows; GFS Stays Optimistic on Plains Precip; Macro Input Leans Negative

AgResource Farm Marketing Advice for Tuesday: 1/ No new advice. CBOT ag markets are mostly lower, with any AM strength confined to KC & Minneapolis wheat. This week’s tour of Kansas so far has found decent yield potential in the center and east of the state, but there’s no indication yet that NASS’s deep cut…