Mar 11, 2022


The higher fuel market has increased the cost of freight dramatically, which is why you see the difference in the cash spread between our locations. Hopefully this fuel market comes back to reality soon. Unfortunately, we need to cover the increased cost. Today's price action was much more subtle to end the week. Grains traded mostly lower overnight but rallied back towards unchanged throughout the day with what appeared to be very disciplined buying, resulting in a modestly higher finish in corn. Corn traded 10-20 cent ranges and soybeans kept their highs and lows within about 30 cents of each other for the day. There was still plenty of movement inside those ranges but volatility was down and trade moved much slower compared to earlier in the week. The USDA kicked us off with a pair of sale announcements at 8 a.m. that included 128,900 tonnes of corn to unknown in 2021/22 and 264,000 tonnes of soybeans to China in 2022/23. Rail freight has become extremely expensive and fuel surcharges continue to increase, making existing and new sales tedious to navigate in the near future. Overall, basis continues to soften on the front end with processors and end users bidding defensively after a large movement of cash grain to begin the month. Enjoy what looks to be a great weekend.

With spring finally arriving for us next week, US weather will continuously become more important.

Read More News

Jun 20, 2024
The mid-week holiday gives the market a second case of the Mondays this week. After some recovery in the previous session, the grain complex just could not find a footing on Thursday. Wheat and soybeans were hit the...
Jun 17, 2024
Down hard across the grain complex to begin the week.  Corn finished 6-7 cents lower and soybeans closed 16-22 cents lower.  It's no secret that there is a variety of little things not perfect with the corn crop.  The...
Jun 14, 2024
Grains were negative in overnight trade and weakness continued to build throughout the day. Corn gave us a very brief look at some 1 cent higher trade this morning before flipping back to the red. Corn basis and spreads...