3/2/2022

Mar 02, 2022


3/2/2022
Beginning 3/2/22, Glacial Plains will be offering free Price Later for corn at the Murdock location exclusively. Pricing deadline is 10/13/2022.

The big volatility in corn and soybeans continues with today's market featuring a 35-cent range in corn and 50 cent range in soybeans on the May 2022 contracts. Soybeans traded in the green for a small portion of the overnight session but trended lower on the day and finished deep in the red with money choosing to offset some length. Corn spreads have gone deeply inverted with money choosing to buy the May 22 contract almost exclusively. Best of luck to anyone trying to bottom- or top-pick this market. With this extreme level of volatility, it’s likely a price you are seeing may not be currently trading in Chicago. The quotes you see on our website or receive through our text alert system are on a delay and not live with the market. The best option to market in this type of market atmosphere is sell orders. Pick your price and let them work. The USDA confirmed two sizable soybeans sales with an 8 a.m. announcement this morning with 264,000 tonnes to unknown and 266,000 tonnes to China. Both split approximately 75%/25% between the 2021/22 and 2022/23 marketing years. Weekly ethanol data for the week ending 2/18 showed production averaged 997,000 bpd, down 27k barrels from the previous week. Stocks were lowered by 574k barrels to 24.933 million. Spec money continues to pile into wheat with Kansas City and Chicago featuring some expanded limit trade today.

We’ve traded some big ranges over the past 5 days in corn and soybeans. May 22 corn has seen an 88 cent range and May 22 soybeans have worked $1.80 range.
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