Grain > Commentary > 4-18-2024

4/18/2024

Apr 18, 2024

Not much to get excited about today. Corn and soybeans traded higher for a very brief moment before weakness set in. Corn ends the day down 3-5 cents and soybeans lose 12-15 cents. The weekly export sales were just under mid-range for corn and soybeans with old crop sales netting out at 501k tonnes of corn and 486k tonnes of soybeans. The USDA made an export sale announcement this morning which confirmed 138,000 tonnes of soymeal for delivery to the Philippines during the 2023/24 marketing year.

Soybeans have taken a pretty good beating this week and are now within 20 cents of a major low on the front month chart.

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