May 31, 2024

The markets showed some promise during the overnight session with corn trading steady 3-5 cents higher and soybeans hanging around 11-14 cents higher.  Any signs of life were sucked out of the market with another dull weekly export sales report.  Everything was reported within their expected ranges with 810k tonnes of old crop corn and 329k tonnes of old crop beans sold.  New crop sales totaled 188k tonnes of corn but only 7k tonnes of soybeans.  Over the past 10 years, the USDA's target for new crop soybean sales averages 10% covered.  Today we sit at only 1.9% covered, the lowest percentage since 2001/02.  Price action was also dictated today with month end covering from managed money and spec funds.  Monday could be a different story.  For the month of May, July corn futures were virtually unchanged and July soybeans gained 44 cents.  The monthly move for December corn was down 2 cents and November soybeans picked up 28 cents.

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Jun 17, 2024
Down hard across the grain complex to begin the week.  Corn finished 6-7 cents lower and soybeans closed 16-22 cents lower.  It's no secret that there is a variety of little things not perfect with the corn crop.  The...
Jun 14, 2024
Grains were negative in overnight trade and weakness continued to build throughout the day. Corn gave us a very brief look at some 1 cent higher trade this morning before flipping back to the red. Corn basis and spreads...
Jun 13, 2024
Decent bounce in corn and soybeans on Thursday. With the USDA not offering much in yesterday's WASDE, the market turns back to a money flow game. Weather outlooks showing potential for some above normal...