Grain > Commentary > 3-22-2024

3/22/2024

Mar 22, 2024

The markets opened flat on Thursday evening and soybeans just could not find a bid to end the week. Soybeans finished deep in the red with 14-18 cent losses but down only 6 cents on the week. Corn recovered slightly after trading 4 lower to finish 1-2 cents down on the day but still up 2 cents on the week. Mexico stuck its head up again and brought a fresh round of business. Mexico continues to be one of the bright spots in demand for U.S. corn. The USDA confirmed the sale of 263,000 tonnes of corn for delivery to Mexico this morning. 173,000 tonnes delivered in 2023/24 and 90,000 tonnes delivered in 2024/25. Mexico's corn production was below average last year and they have stepped up their purchases of U.S. corn to fill needs. Next week is sure to bring some volatility and opportunity with the acres intentions report. Have those sell orders working!

Some seasonal trend activity from Kevin Clausen at John Stewart and Associates...

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