6/14/2023

Jun 14, 2023


Lower to begin overnight trade turned into mixed, two-sided trade through the day.  Corn and soybean price action was much more reserved and traded tight ranges relative to what we have seen earlier this week.  With the markets now just a couple days away from another 3-day weekend, today already looked a little like holiday type trade and it will be interesting to see how funds handle the lighter volume during the back half of the week.  There was no big news or headlines to trade today and the only fresh information was the weekly ethanol report.  Ethanol production dipped 18k barrels/day down to 1.018 mln bpd.  Stocks also declined by 700k barrels to 22.2 million bbls.  Weather will continue to be the biggest driver in the market over the seven days or so but trade will begin positioning for the quarterly grain stocks and acres reports by the end of next week.  Cash corn basis continues to weaken daily and every day that passes from now through the summer will likely mean lost opportunity on that side of the price equation.

Read More News

Jun 20, 2024
The mid-week holiday gives the market a second case of the Mondays this week. After some recovery in the previous session, the grain complex just could not find a footing on Thursday. Wheat and soybeans were hit the...
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...