10/13/2020

Oct 13, 2020


10/13/2020
We had one sale announcement this morning, which was 110,000 metric tons of corn to Mexico.  It felt a bit disappointing that there were no China sales announced as they came out of their holiday.  Corn and beans bounced some today after yesterday's correction, but I wouldn't be surprised to see a bit more of a correction to the downside.  The 10.20 futures area looks to be a short-term target area to the downside, with 9.80 longer term.  When the funds are this long and everyone is one side leaning bullish it seems to change in a hurry.  Like I said before be careful and expect lots of volatility thru the winter in the soybean market.  We will get harvest progress tonight as we are expecting beans at 59% harvested and corn at 39% harvested.  It’s going quick and weather looks like it will allow for more harvest to get completed.  It looks like we are in for a bit of a cool down for the next two weeks. 
 

Read More News

Jul 18, 2024
Another day of tough sledding for corn. There was some brief trade to 1 higher but we quickly went backwards into negative territory, closing just above the current contract lows. Soybeans were lower overnight and then...
Jul 17, 2024
It was a fast start to trade overnight with corn making a little surge to trade 3-5 higher and soybeans 7 higher.  Corn was able to hold on to improve 2-3 cents on the day but soybeans swung all the way back to the red side of...
Jul 16, 2024
Soybeans are now priced off of the November futures.  Corn and soybeans enjoyed a day of higher trade and posted modest gains of 2-5 cents.  The weekly crop ratings report was unchanged from the previous week with...