12/28/2023

Dec 28, 2023


Soybeans are now priced off of the March futures...

Very thin holiday trade and continued yo-yo price action sees corn 1-2 cents lower and soybeans down 6-11 cents. One day ahead of final notice day, January soybean spreads were extremely volatile with 6-7 cent ranges on the day and they appeared to cap off a month-long trend of tightening. Soybean demand has the looks of currently being satisfied but any fresh/new demand from China for US soybeans will change the landscape of the market. The market will either need to rally or invert to ration demand (or both). According to the USDA balance sheet, we still have a relatively tight supply of soybeans that are available. We are still optimistic at the prospect of some corn export business getting done in January but we are already seeing our typical shipment timeframe missing out on opportunity. Best to reward any short rallies in corn that poke into the 485-500 futures range prior to the January 12 report.

Read More News

Apr 24, 2024
Profit taking was the feature of corn and soybean trade after corn rallied 20 cents and soybeans rallied 46 cents over the past week.  Spread correction was also seen today with May price spreads widening back out 1-2...
Apr 23, 2024
After struggling a bit on the tail end of overnight trade, corn and soybeans traded steady higher and looked their most firm heading into today’s close. After chugging higher for a third consecutive day, we viewed some more...
Apr 22, 2024
Some really nice follow-through after Friday's recovery resulted in some key technical signals for trade. Each pullback throughout the day was met with some fast buying. Corn and soybeans followed wheat's lead. Wheat...