Jan 30, 2024

A much-needed turn around Tuesday. Soybeans put up a solid reversal higher, coming back from trading 7 lower to finish 24 higher on the day. Corn trade followed soybeans with less excitement and was unable to take out yesterday's high until the final buzzer. Regardless, a stronger showing across the ag commodity sector as a whole. In general, current fundamentals are not friendly. Corn ending stocks are well above 2 billion bushels and the current soybean export pace says we will have more soybeans leftover than what the USDA is currently showing. Just an average growing season in the U.S. is not supportive to our current price levels. What we need is some sort of outside influence to turn the tide and get the managed money crowd interested in shedding their short positions. Today's big market mover was potential military action by the United States overseas. If you've paid attention over the past couple years, the market volatility has provided an education in risk premium and headline trading. We will have to see some serious follow-through on today's action and push through some moving average resistance to manufacture a real rally.

March soybeans finished just above their 10-day moving average and have about 15 cents of room overhead before running into the 20-day moving average. The 20-day is the point of resistance where our previous bounce ran out of steam.

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Apr 24, 2024
Profit taking was the feature of corn and soybean trade after corn rallied 20 cents and soybeans rallied 46 cents over the past week.  Spread correction was also seen today with May price spreads widening back out 1-2...
Apr 23, 2024
After struggling a bit on the tail end of overnight trade, corn and soybeans traded steady higher and looked their most firm heading into today’s close. After chugging higher for a third consecutive day, we viewed some more...
Apr 22, 2024
Some really nice follow-through after Friday's recovery resulted in some key technical signals for trade. Each pullback throughout the day was met with some fast buying. Corn and soybeans followed wheat's lead. Wheat...