Feb 09, 2024

It was further rinse-and-repeat for corn and soybeans on Friday, ending the week on a firmly lower note.  We had a sign of some life in the markets just after the 8:30 am re-open with corn trading to 4 higher and soybeans 5 higher but quickly reversed the other way.  Corn closed just off of fresh lows while soybeans made a meager attempt to climb away from them.  After yesterday's huge data dump, today was quiet for any new headlines or stories.  Managed money and funds continue to push towards larger net-short positions and, as a total, sit at the second largest all-time short position in corn and third largest all-time in soybeans.  Since we started our dramatic sell off at the turn of the calendar to 2024, the market has tried a few times to turn itself around.  Trade seems to be full of the anticipation of the funds unloading but what we are still lacking is the spark necessary to begin that chain reaction.

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Feb 22, 2024
A round of fresh lows and some give-up selling on the farmer side were all we had to highlight Thursday's session. The USDA confirmed the sale of 126,000 tonnes of sorghum for delivery to China during the 2023/24...
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...
Feb 16, 2024
Soybeans traded solely higher and lead the way into the weekend with some nice bounces.  Corn was trading up to 4 higher early on but ended Friday with March and May 24 contracts slightly lower and 1-2 cents higher...