Nov 15, 2022
Today looked like it was going to end quietly higher in corn and soybeans on simple short covering following our recent downtrend. Just after 12-noon, it was reported a stray Russian missile had struck inside the Polish border. This is significant because Poland is a NATO member. The market reacted with December corn trading 18 higher and January soybeans 24 higher before easing back towards more modest gains on the day. Corn finished 6-10 higher and soybeans 11-13 higher. This morning, the USDA announced two sales to Mexico for delivery in the 2022/23 marketing year: 230,185 tonnes of corn and 261,272 tonnes of soybeans. The NOPA Crush for October was reported at 184.464 million bushels, spot on with trade expectations. Soy oil stocks came in at 1.528bln lbs, just below the 1.535B estimate. It's always the darkest before dawn and we are getting into a timeframe where we see the seasonal trend for corn reverse up and today's war headline may be enough to get us started.
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Nov 27, 2023
Corn and soybeans begin the week down as lower continues to be the path of least resistance. Grains as a whole were largely weaker with wheat double-digits lower and corn finishing with 5-7 cent losses and new 2 1/2...
Nov 22, 2023
Once again, soybeans were the price leader but trade was in heavy risk-off mode in soy. Corn and soybeans bounced around between 1-3 cents lower overnight before selling took over after the morning break. Rains...
Nov 21, 2023
January soybeans have now traded a sixty-cent range over the past two days which includes their lowest quote since November 3 and also trading within a dime of the 3-month highs set just last week. Today's session...