10/11/2021

Oct 11, 2021


10/11/2021
The overnight session offered little for excitement to start our week.  Today's trade was all about positioning ahead of tomorrow's WASDE report.  Weakness in soybeans as the carry-in will get larger and it feels like the size of the US crop, whether it’s in yield or acres, could also get larger.  Soybeans finished last week on a weak note and selling followed through today.  The November contract finished the day well below the 1240'0 support level, we could see a test of the 1200'0 and 1184'0 support levels in the near future.  A couple cents better in corn today with money positioning on the long side ahead of tomorrow's report.  Corn carry-in will get larger tomorrow but the question will be 2021 corn production and if the USDA changes it.  Federal offices were closed for holiday today so we will get our USDA harvest progress report, export flash sales (if any), and a glut of other information to trade tomorrow.

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...