12/29/2023

Dec 29, 2023


Extremely light trade throughout the day. With nothing to really move the market, today's price action was about month-end/quarter-end/year-end positioning. Most market spaces were lower today, including stocks and most other commodities. Soybeans were buoyed in lower trade, finishing 11-14 cents lower, while corn bounced around on either side of unchanged for most of the day and remained within a 5 cent total range. Corn Weekly export sales were on the high end of expectations for corn with 1.242 mln tonnes sold last week. Soybean sales were on the low side at 984k tonnes. The markets will now be closed until Tuesday. Glacial Plains will also be closed on Monday, January 1, 2024. We would like to take a moment to thank you all for a wonderful year in 2023 and we look forward to working with you again in 2024.

2023 corn futures trade

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Aug 15, 2025
Corn and beans both had nice gains heading into the weekend.  Corn might seem terrible as of late, but for corn to only be down 2 cents since report day is impressive.  That was one of the most bearish reports for corn we have seen in quite some time.  Corn finished the week 13 cents off its lows and unchanged for the week.  New crop corn basis has softened a little on the week as the extra 2 million acres and 8 bushels of yield from the report has also scared a few exporters off. 
Aug 12, 2025
The USDA report today didn't treat the corn market very well.  Both corn acres and yield were higher the result has corn carryout over 2.1 billion bushels.  Corn yield was pegged at 188.8 bpa vs an estimate of 184.29 bpa.  How high is 188.8?  Well…the previous record was 179.3.  Planted corn acres were put at 97.3 million.  Total corn production is estimated at 16.742 billion bushels, which is 763 million more than the report estimates.
May 12, 2025
News broke Sunday that the USA and China have agreed to ease tensions and lower tariffs.  The US is lowering tariffs on Chinese goods from 145% to 30%.  China is lowering their import tariffs from 125% to 10%.  Talks will resume in the coming weeks.  This news had stocks, grains and oil higher overnight. Then of course we had a USDA grain report come out at 11:00 this morning.  That was also a bit friendly.