Grain > Commentary

5/19/2022

May 19, 2022

Corn traded 2-8 cents on either side of unchanged to finished mixed on the day from 4 lower to 2 higher after pulling itself off of intraday lows to capitalize off the strength in soybeans.  Soybeans shook off the overnight weakness and held its large gains on the day with credit given to a good week of export sales and strength in meal. 

5/18/2022

May 18, 2022

Wide-spread, heavy selling took over the commodity and stock market spaces today.  Wheat led the sell-off overnight, getting additional momentum early this morning after SovEcon raised its wheat production forecast by 1.2 million tonnes to a record high of 88.6 million tonnes and acknowledging potential to increase that number further.

5/17/2022

May 17, 2022

Corn and soybeans were both down sharply to start last night.  The price action was definitely more technical than fundamental with the gap on the July soybean chart being filled and trade reversing higher.  Corn managed to trade higher briefly following the morning break but was held down in the red for close to the entirety of the day. 

5/16/2022

May 16, 2022

Riding the coattails of limit higher trade in wheat, corn and soybeans posted large gains to start our week.  After gapping higher on the open, corn finished the day 9-28 higher and soybeans 2-13 higher.  Weekly export inspections for corn were on the lower side of the trade range at 1.037 million tonnes inspected and soybeans on the upper end of their range at 784k tonnes inspected. 

5/13/2022

May 13, 2022

Despite a friendly USDA report and more rains in the western corn belt yesterday, corn finished today 4-10 cents lower.  Evidence is starting to appear that our consistent high prices have cut into demand and planters are still rolling sparsely across the U.S.  Avian flu has been making its way through different areas of the U.S., condemning flocks of broilers, turkeys, and egg-layers.  

5/12/2022

May 12, 2022

The USDA announced the sale of 612k tonnes of corn to China with 68k tonnes delivered in 2021/22 and 544k tonnes delivered in 2022/23. Weekly export sales for corn were well under target with 193k tonnes in sales vs 350k tonne minimum estimate.

5/11/2022

May 11, 2022

Corn, soybeans, and wheat all posted double-digit gains one day ahead of our monthly WASDE report.  The July contract for corn settled the day near the middle of the range traded over the past two weeks, July soybeans settled on the low end of its 3-month trading range.

5/10/2022

May 10, 2022

A bit of a turnaround Tuesday with corn gaining 3-7 cents and soybeans picking up 5-10 cents on back-and-forth type trade. Buyers and sellers both struggled to establish momentum and it feels like we will probably see a small rally heading into Thursday's WASDE report

5/9/2022

May 09, 2022

"Risk off" was the theme across multiple market spaces today.  The DOW and NASDAQ Indices were down hard in the 400–500-point ranges and virtually all commodities were deep in the red.  Soybeans managed some slightly higher trade at the 7 p.m. open but most corn months were not able to even trade at unchanged. 

5/6/2022

May 06, 2022

Corn and soybeans lower from the start overnight on a sell-off in Chicago spurred into action by good weather across the grain belt. There are more and more wheels turning each day and more corn going into the ground, we're likely not as late as the market wanted to think.

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