5/27/2022
May 27, 2022
![5/27/2022 5/27/2022](https://storageatlasengagepdcus.blob.core.windows.net/atlas/all-media/glaciplaincoope/commentary/2022/april-june/thumbnails/chicken-eating-350-x-300_1.jpg?ext=.jpg)
Corn and soybeans spent the overnight session trading back and forth on either side of unchanged until around the 6:30-7:00am timeframe when large buying interesting came in on corn. Corn futures continued to run higher throughout the morning until mid-day when intraday highs were set and volume waned into the long weekend. Overall, it was a very quiet news day, there were no export sale announcements or routine reports from the USDA. The best explanation for yesterday's move in corn and soybeans was a large hedge fund was rumored to have liquidated their corn:soybean spread positions. Soybeans did find some follow-through buying today to finish mostly higher and corn gained backed a little more than what was lost on Thursday. The markets will be closed on Monday for Memorial Day but will re-open 7 p.m. Monday night. This week has seen excellent progress in our area for planting and I expect next week's crop progress report to show another nice bump in corn and soybean plantings. Enjoy the long weekend! Reminder: Glacial Plains will be closed Monday, May 30 in observance of Memorial Day.
November soybeans back within striking distance of the contract high.
![bean-chart.jpg bean-chart.jpg](https://storageatlasengagepdcus.blob.core.windows.net/atlas/all-media/glaciplaincoope/commentary/2022/april-june/features/bean-chart_3.jpg)
November soybeans back within striking distance of the contract high.
![bean-chart.jpg bean-chart.jpg](https://storageatlasengagepdcus.blob.core.windows.net/atlas/all-media/glaciplaincoope/commentary/2022/april-june/features/bean-chart_3.jpg)