5/27/2022

May 27, 2022


5/27/2022
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.
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Mar 11, 2025
The monthly USDA WASDE report was today and it was about as boring as it can get.  The USDA took the month off leaving corn and beans carryouts unchanged.  Corn remains at 1.540 billion bushels and beans at 380 million bushels.  World ending stocks were slightly lowered on both corn and beans.  World corn was pegged at 288.94 million tonnes vs 290.3 million tonnes previously.  World beans were pegged at 121.4 million tonnes vs 124.3 million tonnes previously.  All of the South American crop production estimates were also left unchanged.  
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