Nov 05, 2020

Another day of good gains in the grain markets and the financial markets.  More China rumors around, but nothing confirmed.  We had a couple small exports sales announced this morning of soybean oil and sorghum, nothing too exciting.  Exports sales for the week were very good for corn at 2,610,800 tonnes compared to estimates of 1,800,000 to 2,500,000 tonnes.  Soybean export sales were near 1,530,000 mmt.  South American weather still remains a question mark as they have got recent rains, but some still want to lean towards a dry growing season.  The USDA's next report will come on Tuesday and we should see shrinking carryout's in both corn and beans.  Beans remain to be the best story at the moment, but corn is definitely starting to gain momentum as well.  Estimates for the report have corn carryout at 2.0 billion, down from 2.167 in October.  Estimates have the bean carryout at 235 million, down from 290 million in October.  Some private estimates are closer to 150 million at this time.  So, to sum it up we have a shrinking supply and are growing demand, which leads to higher prices. 

Read More News

Apr 24, 2024
Profit taking was the feature of corn and soybean trade after corn rallied 20 cents and soybeans rallied 46 cents over the past week.  Spread correction was also seen today with May price spreads widening back out 1-2...
Apr 23, 2024
After struggling a bit on the tail end of overnight trade, corn and soybeans traded steady higher and looked their most firm heading into today’s close. After chugging higher for a third consecutive day, we viewed some more...
Apr 22, 2024
Some really nice follow-through after Friday's recovery resulted in some key technical signals for trade. Each pullback throughout the day was met with some fast buying. Corn and soybeans followed wheat's lead. Wheat...