Jun 27, 2022
More risk-off in corn and wheat following a weekend that saw much needed precipitation in major growing areas with some totals in Iowa and Illinois estimated between 4-5" or more. Crude oil bounced back following two weeks of lower trade. This was supportive to the soy crush and soy oil, lifting soybeans with it. Forecast outlooks are turning more "greenhouse" than drought, calling for above average temperatures and precipitation into mid-July. Weekly export inspections were on the higher end of trade expectations for corn and soybeans this week with 1.246 million tonnes of corn and 468k tonnes of soybeans inspected for shipment. Year to date shipment pace for corn exceeds the USDA target by 101 million bushels and may be stuck short of target for soybeans with Brazil set to become the world grain supplier for the next couple months. The USDA just increased soybean exports in this month's WASDE report and it is very possible that they will have to reverse that change. U.S. crop conditions are expected to be steady with last week's report. Brazil corn production estimates are seeing another round of increases and the 8 a.m. sale announcements from the USDA have become non-existent. This is concerning considering the large price break we've seen on the board, recently.
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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...