11/9/2023

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.

Read More News

May 10, 2024
The USDA gave trade a report that was friendly for corn to work with.  Despite a higher finish, the report was quite negative for soybeans with the USDA plugging in a 445 mln bu carryout for the 2024/25 crop year.  What...
May 09, 2024
Markets were steady-higher through the overnight session until the East coast crowd came online at 8 a.m. their time. Corn and soybeans quickly flipped to the red and headed into the coffee break lower where they...
May 08, 2024
Corn and soybeans were lower on Wednesday with corn down 5-8 cents and soybeans giving back 12-19.  The previous 5 days gave our futures a rally we have been waiting for since late February and pull-backs like these...