Nov 07, 2022
The market was defensive and went risk-off to start the week after China flip-flopped on their announcement from last week about loosening up of Covid protocols. Two days out from our November WASDE report, the market is leaning towards a larger supply and smaller demand for corn. Soybeans were pressured on what the China Covid protocols possibly mean for U.S. soy demand. U.S. weekly export inspections were excellent for soybeans at 2.591 million tonnes, hanging with some of our best numbers over the past seven years. Soybean export shipment pace falls short of the USDA target by 73 million bushels compared to 89 million bushels the previous week. This gap should continue to narrow. Corn inspections disappointed with 231k tonnes inspected for shipment. This was the lowest total for this week over the past seven marketing years. We should start to see an upswing in corn inspections going into the second half of November. Have sell orders working on Wednesday to capture potential price spikes following our WASDE report.
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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...