Nov 09, 2023
The USDA offered some unfriendly surprises in the November WASDE report. Soybeans reversed on the day to finish 10-22 lower. Corn set fresh two-year lows but continues to hold the 467-470 area on December. While this looks bearish on the surface, corn not breaking lower on this report is encouraging. The longer this area holds, the more attractive it will look to trade to add length to their positions. USDA increased corn yield by almost 2 full bushels but added demand/usage to help offset some of the production increase. The changes on the soybean balance sheet were much less exciting. A simple increase in yield of .3 bu/ac trickled down to an increase in carryout of 25 million bushels.
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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...