May 25, 2023

The bears and bulls struggled to maintain direction today.  Corn and soybeans traded some nice ranges away from either size of unchanged, giving most a chance at positioning no matter their bias.  There is finally a small buzz going around the market with some concern about moisture conditions.  Funds had recently flipped short but have worked themselves closer to a neutral position as we are now one day out from an extended weekend.  The market has built a slightly bullish sentiment based solely on weather as domestic and export demand for corn continues to dwindle away.  Weekly export sales were within expectations with net cancellations for corn (75k tonnes) and wheat (45k tonnes) and net sales of 115k tonnes of soybeans.  There was a nice bump in bean meal sales with last week's sale announcement to Poland.  Marketing year to date, corn sales are short of the pace needed to hit the USDA target by 132 million bushels versus 108 million last week.  Soybean sales are short by 100 million bushels versus 71 million last week.  Actual shipment pace for corn is short by 107 mln bushels and soybean shipments are 50 million bushels ahead but the gap is shrinking.


Read More News

Apr 19, 2024
A nice pop in the markets to end the week after a sharp rise in geopolitical tensions. Retaliatory strikes between Iran and Israel took place overnight and, unfortunately, corn and soybeans need something like this to fuel a...
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...
Apr 17, 2024
An uneventful week for corn and soybeans so far.  A large majority of the volatility has been isolated to the soy trade which today saw beans finish 1-5 higher, meal $3 higher, and some small gains in oil.  Corn traded less than...