Mar 14, 2024

Corn and soybeans gave the markets a bit of a gut check and perhaps a short-term signal that our rallies will pause for the time being. Soybeans went wild after the morning break when May beans traded up to 21 cents higher and the November contract nearly touch $12. Corn just couldn't find any way to trade higher and that weakness spilled over into soybeans. Beans fell away from their highs violently and we were quickly bogged down in 1-2 cent lower trade. Corn did not get much help from trend line or 10-day moving average support. The USDA confirmed an export sale this morning of 100,000 tonnes of corn to Mexico for delivery in the 2023/24 marketing year. Mexico has stepped up in a big way purchasing corn from the U.S. this year and has taken some of that business that's lacking from China. Our corn market would look much different if they weren't buying the volume that they are. Weekly export sales were solid for corn and at the top end of the trading range at 1.283 mln tonnes. Soybeans were on the low end at 376k tonnes.

Following an open winter and above normal temperatures that look like they will continue, trade is starting to pay attention to moisture levels through the U.S. grain belt. Over the past month, drought area and severity has increased.

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Jul 18, 2024
Another day of tough sledding for corn. There was some brief trade to 1 higher but we quickly went backwards into negative territory, closing just above the current contract lows. Soybeans were lower overnight and then...
Jul 17, 2024
It was a fast start to trade overnight with corn making a little surge to trade 3-5 higher and soybeans 7 higher.  Corn was able to hold on to improve 2-3 cents on the day but soybeans swung all the way back to the red side of...
Jul 16, 2024
Soybeans are now priced off of the November futures.  Corn and soybeans enjoyed a day of higher trade and posted modest gains of 2-5 cents.  The weekly crop ratings report was unchanged from the previous week with...