2/10/2023

Feb 10, 2023


2/10/2023
Grains had a nice rally today following several key headlines.  Weather outlooks in South America that lowered next week’s rainfall expectations. Coverage is only expected to be 50% as well. News that Russia claims it will cut oil production by 500,000 barrels per day was also supportive. Heightened fighting between Russia and Ukraine was also positive for futures, mainly wheat.  The grain markets seemed to follow wheat higher right out of the 8:30 open.  We have heard these stories many times this year, so I will waive the caution flag to be careful.  We are approaching the upper level of the trading range, so it would not hurt to reward the market a little.  If you don't want to sell here maybe put some orders in for Sunday night. 6.70 cash corn and 15.00 cash beans remain a good target.  Have a good Super Bowl Weekend!!   

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Mar 11, 2025
The monthly USDA WASDE report was today and it was about as boring as it can get.  The USDA took the month off leaving corn and beans carryouts unchanged.  Corn remains at 1.540 billion bushels and beans at 380 million bushels.  World ending stocks were slightly lowered on both corn and beans.  World corn was pegged at 288.94 million tonnes vs 290.3 million tonnes previously.  World beans were pegged at 121.4 million tonnes vs 124.3 million tonnes previously.  All of the South American crop production estimates were also left unchanged.  
Aug 30, 2024
Corn picks up 10 cents and soybeans improve just over 25 cents on the week to go into the holiday weekend on a positive note.  Soybean export sales have picked up the pace in a big way.  At the end of last week, sales...
Aug 23, 2024
Corn trade was flat at 2 lower throughout a majority of the day to take us back to where we started the week.  Soybeans were 9-11 higher in what looks to be a dead-cat bounce in the middle of nowhere on the charts....