11/22/2022

Nov 22, 2022


11/22/2022
An extremely quiet and slow-moving trade day for grains and most other commodities with many market participants already on holiday.  Yesterday's weekly export inspections report was still showing bland numbers for corn at 495k tonnes inspected and average volume for soybeans at 2.329 million tonnes inspected.  With any domestic news or headlines lacking to provide market direction, traders are watching crop conditions and weather in Argentina and Brazil closely.  For those of you with basis-fixed December corn contracts, this week's light volume may give us an opportunity to roll out those contracts within a few cents of even.  With the bulk of the volume in corn moving to the Mar 23 contract, spreads off the December have tightened and we have a few days before we hit our deadline.  At the close today, you can roll your December basis out to either the March or May at the cost of 3 cents. 

Reminder: Glacial Plains will be closed Thursday and Friday, November 24-25 for Thanksgiving.
 

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