2/13/2024

Feb 13, 2024


The trend of extremely choppy trade continued on Tuesday and featured a little more volatility than what has been seen recently.  Corn traded a 5-6 range only to get stuck near unchanged by mid-day.  Soybeans found some higher trade just after the 8:30 re-open but fell back to 5-6 lower shortly after.  This week on the calendar tends to be bearish for majority of market spaces.  Chinese New Year, a key period for the South American Crops, and the USDA outlook forum all tend overlap in the middle of February.  A poor CPI print this morning (3.9% vs 3.7% expected) also had a macro affect.  If we can hold our current trading areas in the grains, we can put a positive twist on the market.  Until then, the focus needs to be getting basis set on any unpriced grain at home.

Soybeans have consolidated tightly over the past 8 sessions as the market tries to decide which direction it should go.  Fundamentals say a break out to the low side but the funds are nearing their second largest all time net short position in soybeans.   

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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
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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....