Monthly Archives: November 2013

MidCo Morning Comments

Good morning. Grains and soybeans are pushing higher this morning with strong soymeal prices supporting beans and corn and wheat benefiting from short covering. SF will encounter resistance in the $13.40 area. Rumors that China will soon cancel more soybean purchases continue to float. South American growing regions will see average to above average moisture over the next two weeks and no excessive heat. Egypt is tendering for December wheat today. The tender is expected to be filled

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MidCo Morning Comments

Good morning. Profit taking has pushed corn, beans, and wheat lower overnight. Volume has been moderate. Chinese soybean and soymeal prices have not rallied in recent days as has the U.S. market which is  pressuring Chinese crush margins. Chinese crushers are thought to be reselling cargoes of U.S. soybeans into their cash markets, which is adding to the conjecture that the Chinese have overbooked soybeans and may be cancelling purchases soon. 95% of the U.S. corn harvest is

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