Feb 22, 2022
It was full risk-on in most commodities today following a weekend that featured ever-increasing tension between Ukraine and Russia. President Biden also announced new economic sanctions on Russia shortly before market close with the market setting new contract highs across a plethora of commodities in the final 15 minutes of trade. Trade is putting a huge risk premium on grains assuming that Ukrainian exports will be disrupted but the area in question is in far east region of the country and some distance away from major growing areas and the export facilities on the Black Sea coast. Lost in the chaos today were the weekly export inspections with corn inspections at 1.577 million tonnes and soybeans at 975k tonnes, both within range of trade expectations. There were also two export sales announced by the USDA at 8 a.m. this morning that included 120,000 tonnes of hard red winter wheat to Nigeria split evenly between the 2021/22 and 2022/23 marketing years and 132,000 tonnes of soybeans to China for the 2022/23 marketing year. Most common question asked: How high are soybeans going to go? Until crushers stop making money in soybean meal, oil, or both. With another big rally in the works over the past 4 days in soybeans, corn is now on the move to buy acres. Continue to scale up your sales as we ride this wave, taking bites of this market on the way up.
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...