6/24/2021

Jun 24, 2021


6/24/2021
Grains took a beating overnight and into the morning break.  We ended the day mostly in red but finished strongly off the lows with some fractional gains in the 2021 corn trading months. Closes in corn were 20 cents, and soybeans 30 cents, above their bottom marks on the day.  It was rumored yesterday that China was in the market for new crop beans again and the USDA confirmed two new crop beans sales this morning with 132,000 tonnes to China and 260,000 tonnes to Unknown (14.4 mln bu total).  It sounds like China was still interested in more US new crop beans today so we will be waiting to see if the USDA flashes another 8am sale tomorrow morning.  Managed money continues to liquidate their long positions going into next week's planted acres and grain stocks reports.  Good rains in the "I" states this week and continued forecasts showing favorable conditions in key areas has kept selling pressure on the market.  Prepare yourself to see possible increases to both the corn and soybean 20/21 ending stocks numbers at it appears rationing has done its job and expect to see the soybean board return to a normal carry market as the summer passes.  Looks like our next best chance for rain is late Saturday evening through Sunday night.  Keep those fingers crossed!

Read More News

Jul 18, 2024
Another day of tough sledding for corn. There was some brief trade to 1 higher but we quickly went backwards into negative territory, closing just above the current contract lows. Soybeans were lower overnight and then...
Jul 17, 2024
It was a fast start to trade overnight with corn making a little surge to trade 3-5 higher and soybeans 7 higher.  Corn was able to hold on to improve 2-3 cents on the day but soybeans swung all the way back to the red side of...
Jul 16, 2024
Soybeans are now priced off of the November futures.  Corn and soybeans enjoyed a day of higher trade and posted modest gains of 2-5 cents.  The weekly crop ratings report was unchanged from the previous week with...