5/6/2021

May 06, 2021


5/6/2021
Another day of trade ends and its one very similar to what we've seen over the course of the previous 5 weeks.  Today sees another fresh set of contract highs and the spread between cash-new crop corn values tightened by another 12 cents on the board.  There are technical indicators all over signaling we are extremely overbought and need a steep correction but it is not deterring the money from going long.  These 10-25 cent moves higher almost seem effortless at this point but stay diligent to the fact that the 10-25 cent moves lower will be similarly effortless when the market breaks lower.  Next Wednesday, the USDA will put out the monthly WASDE report, giving us fresh fundamentals to trade, but after a 5-week rally, can anything in the report continue the push higher?  Some sideways, range trade would be extremely healthy right now and provide the market a much-needed breather.  New crop 22 and 23 values are a discount but history has shown that there is a real possibility of those current values being extremely coveted at the delivery period.  Already hearing some in our area are 100% planted for both corn and beans and expect a large majority of operations in the territory will be completed with planting by the end of the weekend.

Read More News

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.  
Aug 30, 2024
Corn picks up 10 cents and soybeans improve just over 25 cents on the week to go into the holiday weekend on a positive note.  Soybean export sales have picked up the pace in a big way.  At the end of last week, sales...
Aug 23, 2024
Corn trade was flat at 2 lower throughout a majority of the day to take us back to where we started the week.  Soybeans were 9-11 higher in what looks to be a dead-cat bounce in the middle of nowhere on the charts....