Feb 17, 2022
Soybeans breached 1600'0 for the first time since a week ago and corn ventured into the 650's. After a strong overnight session, the 8:30 market open saw a fair amount of profit taking and soybeans were not able to hold above 1600'0 level. We spent a majority of the day session in two-sided trade until some strength was, again, observed over the last hour of trade and we went into the close with corn and soybeans both firmly 2-5 cents higher on the board today. March options going into expiration tomorrow and feels like the fund and spec money is possibly playing opossum going into the weekend and 1600'0 has suddenly become an important spot on the soybean charts. The USDA confirmed a sale at 8 a.m. this morning: 120,000 tonnes of soybeans for delivery to unknown in the 2021/22 marketing year. Weekly export net sales were mid-range of expectations for old crop corn and soybeans with 820k tonnes of corn and 1.362 mln tonnes of beans sold. As expected, after last week's string of sales announcements, new crop soybeans had a big week with 1.526 mln tonnes sold. The market remains on edge with the Ukraine/Russia situation continuing to develop and trade speculates on how it may possibly affect the physical corn and soybean trade.
Read More News
Nov 27, 2023
Corn and soybeans begin the week down as lower continues to be the path of least resistance. Grains as a whole were largely weaker with wheat double-digits lower and corn finishing with 5-7 cent losses and new 2 1/2...
Nov 22, 2023
Once again, soybeans were the price leader but trade was in heavy risk-off mode in soy. Corn and soybeans bounced around between 1-3 cents lower overnight before selling took over after the morning break. Rains...
Nov 21, 2023
January soybeans have now traded a sixty-cent range over the past two days which includes their lowest quote since November 3 and also trading within a dime of the 3-month highs set just last week. Today's session...