10/5/2022

Oct 05, 2022


10/5/2022
The market struggled to find itself today.  We started the overnight session trading 1-2 steady higher in corn and 1-2 steady lower in soybeans, selling accelerated into the morning break.  Corn made an attempt to trade higher around the midday point but was sold back to unchanged before finding some late session buying to finish 1-2 cents up on the day.  Soybeans tried to rally back from some sharply lower trade at the 8:30 open but were unable to sustain any momentum and were held down to double-digit losses.  Overall, the markets were held in check today with the dollar index back in the green.  Weekly ethanol numbers saw a solid increase in production alongside an increase of new crop corn supply.  Production was up 34,000 bpd to 889,000 barrels total, stocks declined 1.01 million barrels to 21.69 million.  Crude oil easily found a bid today following a headline the OPEC+ plans to lower their daily production output by as much as two million barrels per day.  This puts the White House in an interesting position in terms of energy policy one month out from mid-term elections.  This energy policy that WILL have some sort of effect on grain demand (ethanol and soybean oil).

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...