Feb 01, 2023

Two-sided trade in corn as we seem to have old and new crop contracts trading independently from each other in corn.  Soybeans saw some higher trade at the beginning of the overnight session but flipped negative quickly.  Spreads have been correcting this week after largely firming last week.  Daily lows were set shortly after 11 a.m. when money decided it was time to stop selling and start buying.  Corn found just enough buying interest on the front end to finish 1-5 higher.  We continue on trading mostly sideways within our ranges.  After confirming 112,000 tonnes of corn to Japan for delivery during the current marketing year on Monday morning, the USDA has been quiet at 8 a.m. the past two mornings.  Weekly ethanol numbers showed a bump of 16,000 barrels/day in production to 1.03 mln barrels/day and stocks falling by 635,000 bbls to 24.44 mln barrels.  For customers with basis-fixed and HTA contracts against the March futures, we have a little over 3 weeks to execute so please be thinking about what your plan is.  Whether you are going to roll to the May or price them out, have orders working.


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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...