Jun 18, 2021

We go into the weekend strong, recovering a majority of yesterday's losses in both corn and soybeans.  China was active overnight, taking the opportunity in yesterday's price break to purchase new crop soybean cargoes on the PNW market.  This helped move herd money back into buying mode along with updated weather models zapping some moisture out of the forecast over the next 7-10 days.  Disappointing rain totals overnight in IA and MN also fueled the buying frenzy.  With this kind of volatility, it’s best not to focus on what happens within one day of trade and trying to top- and bottom-pick can be disastrous.  Make sales at prices you want or use sell orders as a way of catching price spikes as upside potential in old crop continues to shrink.  New crop export sales are well ahead of the average pace with 25% of the USDA estimate for the 21/22 year already sold vs a 6% average.  New crop soybean sales are at 13% of the USDA estimate for the 21/22 year vs a 9% average.  Weekly closes: cash corn 34 cents lower, new crop corn down 43 cents, cash soybeans $1.27/bu lower, and new crop soybeans down $1.25.  Trade will be watching the weather with a microscope over the weekend and ready to pull the trigger at the opening bell Sunday night.  Enjoy the beautiful weekend!

Read More News

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...