Grain > Commentary > 12-14-2022

12/14/2022

Dec 14, 2022

12/14/2022
Corn ends the day lower on the front months and higher starting at the December 2023 contract and further out.  Soybeans settled mostly unchanged to 3 cents higher, with just a few months closing fractional to 1 lower.  With some solid export sale announcements and shipment pace over the past couple weeks, soybeans have found a bid near the top end of our 6-month trading range but have yet to mount a charge towards the $15 handle.  Corn was softer early session but spec buying showed up shortly after the morning break.  Overall, a very bland day of featureless trade.  With a lack of market moving headlines or changes in fundamentals, trade is focused on technicals.  Weekly ethanol showed output down 16,000 barrels/day to 1.06 mln bpd and stocks increasing 1.15 mln barrels to 24.41 mln bbls.

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