Feb 20, 2024

Soybeans gapped higher on the Sunday night open and a portion of those gaps remained open on the charts at the close on Monday.  Price action in corn was interesting to those who paid attention and it was a good little test for both sides.  After trading out to 5 higher, corn fell back to 3 lower before finding another bid and pushing back to end the day 2-3 cents higher.  We had two flash sale announcements from the USDA this morning.  First: 155,000 tonnes of corn for delivery to Japan in 2024/25; secondly: 228,000 tonnes of soybean meal for delivery to the Philippines in the 2023/24.  The weekly export inspections were in right in line with expectations.  Corn shipments totaled 919k tonnes last week, increasing corn's pace to 15 a million-bushel surplus over the USDA target.  Soybean inspections came in at 1.186 mln tonnes which improved their shipment pace from a 25-million-bushel deficit to a 22-million-bushel deficit.  We are starting to see some positive sentiment make its way into the market after the past two trading sessions but we need to some follow-through buying this week to create the foundation for a rally.

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Apr 19, 2024
A nice pop in the markets to end the week after a sharp rise in geopolitical tensions. Retaliatory strikes between Iran and Israel took place overnight and, unfortunately, corn and soybeans need something like this to fuel a...
Apr 18, 2024
Not much to get excited about today. Corn and soybeans traded higher for a very brief moment before weakness set in. Corn ends the day down 3-5 cents and soybeans lose 12-15 cents. The weekly export sales...
Apr 17, 2024
An uneventful week for corn and soybeans so far.  A large majority of the volatility has been isolated to the soy trade which today saw beans finish 1-5 higher, meal $3 higher, and some small gains in oil.  Corn traded less than...