Grain > Commentary > 6-16-2023

6/16/2023

Jun 16, 2023

Another big day on the board with funds and spec money following through with more buying and risk-on going into the extended weekend.  The markets will remain closed until Monday night so make sure your seatbelt is pulled tight for Tuesday.  Today's story was much of the same: weather forecasts continue to be bias towards dry, arid weather but around mid-day Friday we did see a shift in the models that favored some milder temps and more moisture.  It really feels like the next 3 days will be very important in determining the direction of our markets.  Next week we will likely see September corn, August soybeans, and November soybeans test resistance at their 200-day moving averages.  December corn is also in position to test resistance at the very important $6.00 level.  This market is so weather dependent right now that any change in the weather forecasts will be felt!

Read More News

9/12/2025
Sep 12, 2025
USDA report day.  Corn and beans were trading higher pre-report on thoughts of a reduction to yields.  Well....we got what we were thinking but the USDA decided to throw a twist into the mix.  The 25/26 corn yield decreased slightly less than expected by 2.1 bu to 186.7 bpa, but they gave us the largest planted acreage shift on this report in at least the last 20 years (+1.4 mil acres) spurred an increase in production to 16,814 mbu.  25/26 ending stocks were slightly lowered by 7 mbu to 2,110 mbu. 
8/21/2025
Aug 21, 2025
Today the market ran higher on rumors for positive SRE announcements coming soon.  Bean oil was up over $2.  Beans finished the day up 20 cents at 10.56 Nov futures.  There is a chance we could make a run at the 10.74 Nov highs from back in June.  If we get there, I am a seller.  Bean basis remains in the garbage, so a run higher in futures doesn't help that either.  We still don't have a trade deal, so I think any rally is short lived at this time. 
8/15/2025
Aug 15, 2025
Corn and beans both had nice gains heading into the weekend.  Corn might seem terrible as of late, but for corn to only be down 2 cents since report day is impressive.  That was one of the most bearish reports for corn we have seen in quite some time.  Corn finished the week 13 cents off its lows and unchanged for the week.  New crop corn basis has softened a little on the week as the extra 2 million acres and 8 bushels of yield from the report has also scared a few exporters off.