Jan 15, 2021

The markets are closed for Martin Luther King Day and Glacial Plains will not be purchasing grain on Monday, January 18, 2021. We will gladly work a sell order for the market open on Monday night, if desired.

Corn mixed and wide, two-sided trade on beans overnight was followed by a mostly subdued and quiet day on the board. The day session began with corn 2 lower and beans 14 lower and moved very little throughout the day. We had a couple 8am flash sales with Mexico as a buyer of 110k tonnes of corn for 20/21 and 318k tonnes of soybeans to unknown in 21/22. Today's lower finish does offer part of the correctional move we've been looking for but today was more of a "risk-off" day in preparation of a 3 day break from trade as we remain overbought, corn especially. The Renewable Fuels Assoc. estimates that roughly 10% of US ethanol plants currently sit idle and potential refinery exemptions spark talk of additional shutdowns. Higher corn prices have already caused some January corn bids disappear and forced end-users to evaluate their market conditions. The recent rains in S. America create the possibility we may see Brazil crop production estimates start to increase. It's time to sharpen the pencil for 2021 new crop marketing and consider additional sales. It's easy to be bulled up based on the US drought monitor and the prospect of China making big purchases. The food for thought right now is 6 million acres added into corn production for the 2021 crop. A good average crop on those acres combined with current demand puts us right back into $3 futures.

Read More News

May 10, 2024
The USDA gave trade a report that was friendly for corn to work with.  Despite a higher finish, the report was quite negative for soybeans with the USDA plugging in a 445 mln bu carryout for the 2024/25 crop year.  What...
May 09, 2024
Markets were steady-higher through the overnight session until the East coast crowd came online at 8 a.m. their time. Corn and soybeans quickly flipped to the red and headed into the coffee break lower where they...
May 08, 2024
Corn and soybeans were lower on Wednesday with corn down 5-8 cents and soybeans giving back 12-19.  The previous 5 days gave our futures a rally we have been waiting for since late February and pull-backs like these...