Apr 11, 2023
The USDA left the corn and soybean balance sheets unchanged in the April WASDE report. It was slightly bearish in a sense that trade had been expecting cuts to this year's ending stocks. Corn was trading unchanged prior to the report and the July contract was down as much as 7 cents as an immediate reaction at 11 a.m. Soybeans were trading around 10 cents higher before the report, were sold off to trade around 2 cents higher but managed to pick up some momentum late in the session and end the day with 4 to 10 cent gains. Our market will now be driven by weather and planting progress reports over the next month leading up to the May WASDE report. We still like the $6.50 cash price level on corn and we are still optimistic about potential $14.75-15.00 soybeans.
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Feb 22, 2024
A round of fresh lows and some give-up selling on the farmer side were all we had to highlight Thursday's session. The USDA confirmed the sale of 126,000 tonnes of sorghum for delivery to China during the 2023/24...
Feb 20, 2024
Soybeans gapped higher on the Sunday night open and a portion of those gaps remained open on the charts at the close on Monday. Price action in corn was interesting to those who paid attention and it was a good little...
Feb 16, 2024
Soybeans traded solely higher and lead the way into the weekend with some nice bounces. Corn was trading up to 4 higher early on but ended Friday with March and May 24 contracts slightly lower and 1-2 cents higher...