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.

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Apr 24, 2024
Profit taking was the feature of corn and soybean trade after corn rallied 20 cents and soybeans rallied 46 cents over the past week.  Spread correction was also seen today with May price spreads widening back out 1-2...
Apr 23, 2024
After struggling a bit on the tail end of overnight trade, corn and soybeans traded steady higher and looked their most firm heading into today’s close. After chugging higher for a third consecutive day, we viewed some more...
Apr 22, 2024
Some really nice follow-through after Friday's recovery resulted in some key technical signals for trade. Each pullback throughout the day was met with some fast buying. Corn and soybeans followed wheat's lead. Wheat...