Jun 23, 2023
Major risk-off to end the week following some big changes in the weekend forecasts and extended weather models showing high probabilities of much needed moisture across the grain belt. December corn settled well below the $6.00 level and November soybeans managed to hang on above $13. Weather markets can be extremely volatile and there has been no shortage of volatility over the past week. The weekly export sales report offered no support and the figures for corn were very poor, coming in at the bottom side of estimates with 36k tonnes sold. Soybean sales were decent for this week with net sales of 457.5k tonnes. The report shouldn't be a surprise considering how fast the board priced the U.S. out of the global market starting last week Thursday. The funds are able to move the market but it doesn't mean the funds are right, real fundamentals still need to be part driver of the market direction. To date, export sales pace for corn is now 123 million bushels behind the USDA target versus 107 million last week. Soybean export sales pace is currently 82 million bushels behind the USDA target, improving from an 88-million-bushel deficit last week.
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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...