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!

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Apr 24, 2024
Profit taking was the feature of corn and soybean trade after corn rallied 20 cents and soybeans rallied 46 cents over the past week.  Spread correction was also seen today with May price spreads widening back out 1-2...
Apr 23, 2024
After struggling a bit on the tail end of overnight trade, corn and soybeans traded steady higher and looked their most firm heading into today’s close. After chugging higher for a third consecutive day, we viewed some more...
Apr 22, 2024
Some really nice follow-through after Friday's recovery resulted in some key technical signals for trade. Each pullback throughout the day was met with some fast buying. Corn and soybeans followed wheat's lead. Wheat...