3/13/2024

Mar 13, 2024


Corn finishes fractionally mixed and soybeans around 1 cent mixed, as well, after both test the high and low side on Wednesday. We weren't able to follow-through on yesterday's strength in soybeans but our daily range was one of the narrowest we've seen in a while. Also, volume was very light compared to the past two weeks. The market has put together a decent rally since we bounced off a significant low on February 26 and now is the time to seriously consider getting caught up on old crop sales and getting your foot in the door with a good shot of new crop sales, as well. Weekly ethanol data showed production and stocks both off from the prior week with production decreasing by 33,000 barrels/day to 1.024 mln bpd and stocks off 300k barrels to 25.8 mln bbls.

December 24 corn: Trade has attempted to break through Dec’s 50-day moving average the past two days but has not been able to hold. There’s been a solid uptrend develop over the past two weeks but trade will need something fresh if we want to sustain this rally further. The 50-day MA is an obvious hurdle but I am also watching the 480’0 area where we traded for a few weeks in late Jan-early Feb.

Read More News

Mar 11, 2025
The monthly USDA WASDE report was today and it was about as boring as it can get.  The USDA took the month off leaving corn and beans carryouts unchanged.  Corn remains at 1.540 billion bushels and beans at 380 million bushels.  World ending stocks were slightly lowered on both corn and beans.  World corn was pegged at 288.94 million tonnes vs 290.3 million tonnes previously.  World beans were pegged at 121.4 million tonnes vs 124.3 million tonnes previously.  All of the South American crop production estimates were also left unchanged.  
Aug 30, 2024
Corn picks up 10 cents and soybeans improve just over 25 cents on the week to go into the holiday weekend on a positive note.  Soybean export sales have picked up the pace in a big way.  At the end of last week, sales...
Aug 23, 2024
Corn trade was flat at 2 lower throughout a majority of the day to take us back to where we started the week.  Soybeans were 9-11 higher in what looks to be a dead-cat bounce in the middle of nowhere on the charts....