4/6/2023

Apr 06, 2023


It was risk-off into the holiday weekend with trade reacting to multiple signals.  A combination of an improved forecast, short-term profit taking, potential tension escalation between the U.S./Taiwan/China, and active farmer selling out of South America.  Corn and soybeans spreads working off of the May contracts were volatile again today.  The May:July soybean spread has traded over a 12 cent range over the past two days!  Net export sales were above average for corn for the week at 1.247 mln tonnes sold.  Soybean sales underperformed at 155k tonnes.  On the plus side, this week's downturn in the futures already have rumors swirling of some fresh old crop export business.  It looks like the market has done its job over the past 4 weeks and found a number that interests corn buyers.  Reminder: The markets are closed tomorrow in observance of Good Friday.  Glacial Plains offices will also be closed.

Read More News

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...
Apr 23, 2024
After struggling a bit on the tail end of overnight trade, corn and soybeans traded steady higher and looked their most firm heading into today’s close. After chugging higher for a third consecutive day, we viewed some more...
Apr 22, 2024
Some really nice follow-through after Friday's recovery resulted in some key technical signals for trade. Each pullback throughout the day was met with some fast buying. Corn and soybeans followed wheat's lead. Wheat...