May 26, 2021

July corn finds some buying support around the 600 level early in the session to finish 4 higher.  December corn traded similar, with buying interest coming in around the 500 level, managing to squeeze out a nickel higher on the close.  Old crop beans were 7-8 lower and new crop months were virtually unchanged from yesterday.  Volatility was present today with corn seeing a 27-cent range and a 36-cent range in beans.  Corn trade perked up with rumors swirling of China having interest in US old crop corn but, with no bids on the PNW market, it will remain to be seen if there is any truth to it.  It genuinely feels like our market has turned from "buy the fact, sell the rumor" into "buy the rumor, sell the fact."  Remind yourself where our markets were at a year ago, how long it has taken to return to these price levels, and not to leave grain in the bin unpriced past the point the market shifts its focus to new crop.  Soybean demand continues its downtrend with end-users claiming they are very close to bridging the gap to the new crop period.  Demand for corn has slipped slightly but good margins for end-users will keep them hungry for bushels and help maintain some strength in basis.  We go from unseasonably warm to unseasonably cool in a matter of a couple days but the 90%+ chance for rain is worth it.

Read More News

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...