Apr 24, 2024

Profit taking was the feature of corn and soybean trade after corn rallied 20 cents and soybeans rallied 46 cents over the past week.  Spread correction was also seen today with May price spreads widening back out 1-2 cents.  Wheat continued on its march higher, picking up anywhere between another 9-15 cents.  For those with basis-fixed grain in the elevator, regardless if your plan is to roll it forward or price it, sooner may be better before Friday's deadline to squeeze the most out of the past week's market action.  Weekly ethanol report showed production down 29,000 barrels/day to 954k bpd and stocks off 400,000 barrels down to 25.7 million.  One of our recent price targets hit today when December corn traded up to 477'0 and the new crop orders that were placed for $4.25 were filled.

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May 10, 2024
The USDA gave trade a report that was friendly for corn to work with.  Despite a higher finish, the report was quite negative for soybeans with the USDA plugging in a 445 mln bu carryout for the 2024/25 crop year.  What...
May 09, 2024
Markets were steady-higher through the overnight session until the East coast crowd came online at 8 a.m. their time. Corn and soybeans quickly flipped to the red and headed into the coffee break lower where they...
May 08, 2024
Corn and soybeans were lower on Wednesday with corn down 5-8 cents and soybeans giving back 12-19.  The previous 5 days gave our futures a rally we have been waiting for since late February and pull-backs like these...