6/21/2024

An interesting week of trade comes to a close with corn down 3-4 and soybeans 1-7 higher.  This week really felt like the price action was not at all connected to the actual commodities and their fundamentals.  There has also been no market moving headlines to trade for quite a while which typically puts the market on the defensive.  I expect to see the market take some corrective action going into next week's big reports.  The weekly export sales report showed some decent totals for corn and soybeans with both totaling over 500k tonnes.  There was also a small bump higher in new crop sales compared to what we have become accustomed to seeing.