Grain > Commentary > 11-20-2023

11/20/2023

Nov 20, 2023

Soybeans were the darling to start the holiday week.  After trading as much as 13 lower, soybeans completed a large reversal higher to improve 17-27 cents on the day.  Corn drug its feet in lower trade before finally flipping green in the final hour of the session and closing with gains of 1-2 cents out to the July 25 contract.  While soybean sales over the past month have impressed trade, shipments continue to be routine/seasonal.  Export inspections last week were as expected with 554k tonnes of corn and 1.609 mln tonnes of soybeans shipped.  Previous week figures have been routinely revised higher this fall.  The USDA announced 104,000 tonnes of corn sold to Mexico for the 2023/24 marketing year this morning.  

Reminder:  Glacial Plains will be closed on November 23 and 24 for Thanksgiving.

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