Apr 15, 2021
The nearby corn contract broke through the 600 level for the first time since 2013 during overnight trade with May corn setting a new contract high of 601'4. With the bean export program all but completely done for the marketing year, corn has put itself in the driver's seat. Weekly export sales for old crop were a little disappointing with corn coming in below estimates at 328k tonnes and soybeans mid-range of estimates at 91k tonnes. New crop sales were within their targets at 53k tonnes of corn and 266k tonnes of beans. NOPA crush numbers for March were released today with bushels crushed at 177.984 million, 1.195 mln bu short of the analyst average of 179.179 mln bu. Despite some lackluster fundamentals to work with, beans finish 8 higher on the day in firm fashion. The weather in both North and South America looks to be supportive in the short term, with the dry weather in Brazil threatening the safrinha corn crop and a cooler-than-average April across the US corn belt holding the potential to keep planting pace at a crawl. The outlook on the cash markets shows basis will continue to strengthen, with some overages for summer corn deliveries already being shown. This also has corn starting to move in some strange directions across the country.
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Nov 27, 2023
Corn and soybeans begin the week down as lower continues to be the path of least resistance. Grains as a whole were largely weaker with wheat double-digits lower and corn finishing with 5-7 cent losses and new 2 1/2...
Nov 22, 2023
Once again, soybeans were the price leader but trade was in heavy risk-off mode in soy. Corn and soybeans bounced around between 1-3 cents lower overnight before selling took over after the morning break. Rains...
Nov 21, 2023
January soybeans have now traded a sixty-cent range over the past two days which includes their lowest quote since November 3 and also trading within a dime of the 3-month highs set just last week. Today's session...