10/28/2022

Oct 28, 2022


10/28/2022
Corn traded 2-4 lower for most of the day until some late technical buying came in, corn bounced off of its 50-day moving average on the charts and managed to finish around 1 lower on the day to keep itself on trend. Soybean price action was similar with the commodity spending a majority of the session around 5 cents lower until buying came in after the mid-day point and momentum built as it flipped positive on the day. Soybeans finished 5-8 cents higher and stay on trend. The USDA confirmed two soybean sales at 8 a.m. this morning that included 126,000 tonnes to China and 198,000 tonnes to Spain, both for delivery in the 2022/23 marketing year. Big gains on Wall Street today as of about 1:30 with the DOW 750 points higher, the NASDAQ 300 higher, and the S&P 80 points higher.

rainfall.png

Read More News

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...