12/19/2023

Dec 19, 2023


Soybeans and corn both lower as we lack anything fresh and old news once again churns through the market.  The soybean market continues to discount the poor weather and conditions in Brazil as the overall production estimates still remain well above last year's production.  Corn continues in a narrow, range bound pattern, burdened by a large U.S. carryout and stocks-to-use ratio.  Crop scouts and agencies have stubbornly left corn production estimates for South America unchanged for the most part.  With less than 2 weeks remaining in the calendar year, it feels like trade has shut it down until we enter 2025 unless some type of market surprise happens.  The USDA did confirm another soybean sale this morning.  The announcement was for 132,000 tonnes of soybeans to unknown for delivery in the 2023/24 marketing year.

Reminder: Glacial Plains will be closed on Monday, December 25 for Christmas.

Read More News

Apr 19, 2024
A nice pop in the markets to end the week after a sharp rise in geopolitical tensions. Retaliatory strikes between Iran and Israel took place overnight and, unfortunately, corn and soybeans need something like this to fuel a...
Apr 18, 2024
Not much to get excited about today. Corn and soybeans traded higher for a very brief moment before weakness set in. Corn ends the day down 3-5 cents and soybeans lose 12-15 cents. The weekly export sales...
Apr 17, 2024
An uneventful week for corn and soybeans so far.  A large majority of the volatility has been isolated to the soy trade which today saw beans finish 1-5 higher, meal $3 higher, and some small gains in oil.  Corn traded less than...