Grain > Commentary > 11-21-2023

11/21/2023

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 created quite the ride for bean trade.  The overnight session was steady-higher in quiet fashion but we quickly traded up to 22 cents higher shortly after the 8:30 re-opening.  Soybeans then faded quickly, briefly traded 2-3 cents lower, and then returned to higher trade to finish 8-10 cents higher on Tuesday.  Once again, corn just chugged along with the strength from the wheat and soy markets having limited affect.  Corn traded 5-6 cents higher alongside the early push in soybeans and managed modest gains of 1/2-3 cents higher.  There were no sale announcements from the USDA this morning.  

Market schedule for the remainder of the week:  Market opens tonight at 7:00pm, Wed: 8:30am - 1:15pm, no markets Wednesday night or Thursday.  A short session will trade on Friday from 8:30 am - Noon.  Not a bad time to have those crazy sell orders working!

 Glacial Plains will be closed Thursday and Friday for Thanksgiving.

 

Read More News

9/12/2025
Sep 12, 2025
USDA report day.  Corn and beans were trading higher pre-report on thoughts of a reduction to yields.  Well....we got what we were thinking but the USDA decided to throw a twist into the mix.  The 25/26 corn yield decreased slightly less than expected by 2.1 bu to 186.7 bpa, but they gave us the largest planted acreage shift on this report in at least the last 20 years (+1.4 mil acres) spurred an increase in production to 16,814 mbu.  25/26 ending stocks were slightly lowered by 7 mbu to 2,110 mbu. 
8/21/2025
Aug 21, 2025
Today the market ran higher on rumors for positive SRE announcements coming soon.  Bean oil was up over $2.  Beans finished the day up 20 cents at 10.56 Nov futures.  There is a chance we could make a run at the 10.74 Nov highs from back in June.  If we get there, I am a seller.  Bean basis remains in the garbage, so a run higher in futures doesn't help that either.  We still don't have a trade deal, so I think any rally is short lived at this time. 
8/15/2025
Aug 15, 2025
Corn and beans both had nice gains heading into the weekend.  Corn might seem terrible as of late, but for corn to only be down 2 cents since report day is impressive.  That was one of the most bearish reports for corn we have seen in quite some time.  Corn finished the week 13 cents off its lows and unchanged for the week.  New crop corn basis has softened a little on the week as the extra 2 million acres and 8 bushels of yield from the report has also scared a few exporters off.