Jan 05, 2021

Fresh buying interest in both soybeans and corn extends the rally another day. The story is much of the same; mixed bullish and bearish signals for corn and beans continue to search for the ration price. On the bull side for corn, strong fresh buying interest from funds and spec money today adding to their net long positions and Argentina's crop conditions continue to deteriorate. Also, the 60 day halt on corn exports out of Argentina creates the possibility of Brazil needing to import US corn. On the bear side, we need to pay attention to declining domestic use for ethanol and feed. An ethanol plant in Cedar Rapids, IA sent out official notice yesterday that they will be halting production. With corn futures close to $5.00 and crude oil relatively inexpensive, I'm positive this will not be an isolated case. Also, higher priced corn this early in the year is sure to send lighter weight cattle and hogs to market. An off trend dip in average live weights will be an indicator on usage. Current Brazil weather is favorable for crops with more precipitation forecasted. This bearish news was shrugged off as some S. American soy production forecasts were trimmed today and we continue the uptrend in search of price to make someone not buy soybeans.

Read More News

Jun 20, 2024
The mid-week holiday gives the market a second case of the Mondays this week. After some recovery in the previous session, the grain complex just could not find a footing on Thursday. Wheat and soybeans were hit the...
Jun 17, 2024
Down hard across the grain complex to begin the week.  Corn finished 6-7 cents lower and soybeans closed 16-22 cents lower.  It's no secret that there is a variety of little things not perfect with the corn crop.  The...
Jun 14, 2024
Grains were negative in overnight trade and weakness continued to build throughout the day. Corn gave us a very brief look at some 1 cent higher trade this morning before flipping back to the red. Corn basis and spreads...