Grain > Commentary > 10-25-2023

10/25/2023

Oct 25, 2023

Corn and soybeans both lower in very quiet fashion on Wednesday.  There has been very little fresh news or headlines as we continue to progress through harvest at paces very close to last year.  The past three weeks in corn have all looked similar with a strong rally on Thursday followed by three days of selling.  This would be the first week where have not been able to stabilize corn on the 4th day following a Thursday rally.  Ethanol production rose slightly by 5,000 barrels/day to 1.04 mln bpd.  The USDA announced a sale this morning of 126,000 tonnes of soybeans for delivery to China during the 2023/24 marketing year.  117,200 tonnes of corn for delivery to Mexico during the 2023/24 marketing year was announced yesterday.

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6/11/2026
Jun 11, 2026
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5/12/2026
May 12, 2026
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2/10/2026
Feb 10, 2026
It was USDA report day today and it turned out to be a yawner.  The markets never really reacted to the report, and the grains finished the day about where they started with corn unchanged and beans up 12 on the day.  US corn carryout was pegged at 2.127 billion bushels vs the average trade guess of 2.227 billion.  World corn carryout was placed at 288.98 MMT vs the average trade guess of 290.48 MMT.