Jan 06, 2021

Another round of contract highs overnight and an 8am sale announcement of 4 million bushel of corn to an unknown destination but the biggest highlight was corn trading above the magical $5 level. The current market sentiment is extremely bullish and it’s important not to become complacent and assume everyday will be higher. Instead of attempting to guess the market top, evaluate your situation and use some target pricing to protect these price levels. Trade is blowing off the fact we are over-bought and it's time to take some precaution. We have an opportunity to lock in good cash prices on old and new crop at the same time and higher corn prices are sure to slow export and ethanol demand (basis). There is still some upside potential to the bean market which will help support corn but that potential still needs to be realized as potential. Brazil's rainy season has arrived on schedule and we need to assume that they will harvest a good enough soy crop and we will likely see a lot of Brazilian acres double cropped into soybeans. The only bullish spin to weather in Brazil is if excess moisture results in a delay in harvest or planting of double crop soy acres. These big trading ranges should narrow going into the report release on Tuesday.

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Apr 19, 2024
A nice pop in the markets to end the week after a sharp rise in geopolitical tensions. Retaliatory strikes between Iran and Israel took place overnight and, unfortunately, corn and soybeans need something like this to fuel a...
Apr 18, 2024
Not much to get excited about today. Corn and soybeans traded higher for a very brief moment before weakness set in. Corn ends the day down 3-5 cents and soybeans lose 12-15 cents. The weekly export sales...
Apr 17, 2024
An uneventful week for corn and soybeans so far.  A large majority of the volatility has been isolated to the soy trade which today saw beans finish 1-5 higher, meal $3 higher, and some small gains in oil.  Corn traded less than...