Grain > Commentary > 1-24-2023

1/24/2023

Jan 24, 2023

1/24/2023
Corn took back Monday's losses, completing a full recovery for a "turnaround Tuesday."  We started out higher to begin overnight trade and held gains into the coffee break.  After we re-opened at 8:30, corn was able to maintain momentum but soybeans could not hold and slipped to negative trade by the mid-day point.  We've been patiently waiting for some 8 a.m. corn export announcements and the USDA finally came through this morning with 130,000 tonnes of corn for delivery to unknown during the 2022/23 marketing year.  Bids on the PNW have perked up slightly but values aren't anything special.  This is a good start but we need more!  Corn failed to break out of its 3-month range following our big January report day which means the inevitable break out will be even bigger.

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8/15/2025
Aug 15, 2025
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8/12/2025
Aug 12, 2025
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5/12/2025
May 12, 2025
News broke Sunday that the USA and China have agreed to ease tensions and lower tariffs.  The US is lowering tariffs on Chinese goods from 145% to 30%.  China is lowering their import tariffs from 125% to 10%.  Talks will resume in the coming weeks.  This news had stocks, grains and oil higher overnight. Then of course we had a USDA grain report come out at 11:00 this morning.  That was also a bit friendly.