Jan 31, 2023

Weaker overnight markets were seen as buying opportunity for the 8:30am crowd.  Corn traded 4 lower overnight before money flowed in on the long side, pushing the March contract to within 1/2 cent of a fresh 3-month high.  The 685-688 area on Mar 23 corn is establishing itself as resistance and defining the top end of our trading range.  Money exited rather quickly and corn was back to lower trade on the front three contracts by noon.  Money flow was similar in soybeans where we traded 9-13 cents lower overnight before the morning buying frenzy sent us to our daily high.  Corn and soybeans both ended the day mixed, all within 1-4 cents of unchanged.  Money is trying to trade Brazil weather and put a bullish spin on a slower soy harvest and safrihna corn planting.  Next week is the USDA's first chance at adjustments to the crop balance sheets since issuing the final production numbers earlier this month.  Corn is likely to remain unchanged but soybeans could see some adjustments to exports.


Read More News

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...