May 05, 2022
Large, double-digit moves higher in wheat resulted in spillover support for corn and soybeans. Soybeans traded 20-27 higher on the day but finished well off of their highs, being brought back down to earth by the soy oil and meal trade. Weekly export sales for corn were on target with 783k tonnes of old crop and 738k tonnes of new crop sold last week. Old crop soybean sales outperformed estimates with 735k tonnes sold and new crop soybean sales were within range with 407k tonnes sold. Total soybean sales exceed the amount necessary to meet the USDA forecast but it still needs to be shipped. There were no 8 a.m. announcements from the USDA this morning. The big move in wheat today was driven by poor crop ratings, delayed seeding of spring wheat, and problems with wheat exports and production in India. Overall, it's more about RISK to wheat production than actual issues.
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Nov 27, 2023
Corn and soybeans begin the week down as lower continues to be the path of least resistance. Grains as a whole were largely weaker with wheat double-digits lower and corn finishing with 5-7 cent losses and new 2 1/2...
Nov 22, 2023
Once again, soybeans were the price leader but trade was in heavy risk-off mode in soy. Corn and soybeans bounced around between 1-3 cents lower overnight before selling took over after the morning break. Rains...
Nov 21, 2023
January soybeans have now traded a sixty-cent range over the past two days which includes their lowest quote since November 3 and also trading within a dime of the 3-month highs set just last week. Today's session...