4/1/2021

Apr 01, 2021


4/1/2021
After closing limit higher yesterday, it was hard to imagine we would finish the week with a red leg on the chart for the old crop months.  Last night, May corn gapped higher on the open by 11 cents and May beans put up an 8-cent gap with both wasting little time trading to 20 higher.  It was a downhill slide after that with managed money and algorithm trading constantly repositioning.  Best not to put too much weight into today's trade action as we need the 3-day Easter break from trade to really understand what price levels we should be trading.  We get another big report next Friday, April 9, in the WASDE report.  If the USDA decides to keep carry-outs at the same numbers 3 months in a row, it will be tough to maintain our renewed bullish momentum.  Overshadowed today were the weekly export sales.  Corn, soybeans, and wheat were all within their expected ranges but mostly on the low end.  The biggest highlight was China purchasing one cargo of US soybeans plus one cargo switched from unknown to China.  Reminder, GPC will be closed tomorrow (4/2/21) for Good Friday.  The markets will also be closed but trade will resume Sunday evening at 7 p.m. and we can work a sell-order if you like.  Happy Easter.

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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....