12/21/2023

Dec 21, 2023


As we near the extended holiday weekend, trade continues to look disinterested in commodities in general. Corn and soybeans have been in a day-to-day pattern of taking turns selling off. We are in full holiday mode in the markets and there's nothing moving us but chart trade. Our final 2023 production numbers will be out in January and will likely provide our next best opportunity at pricing grain. Weekly net export sales came in at some nice levels and at mid-range of expectations with 1.013 mln tonnes of corn and 1.989 mln tonnes of soybeans sales last week. That was a 7-week low in corn sales but still ahead of the sales pace needed to hit the USDA target. That was also the second best week of the last year for soybeans.

A lack of seasonal snowfall has the drought monitor starting to add more color. Still plenty of time for some significant snowfalls but if current conditions persist, trade will not be able to ignore this.

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...