6/4/2024

Jun 04, 2024


The path of least resistance continues to prevail with corn down nearly 25 cents and soybeans losing around 70 cents over the past six sessions.  The first installment of crop conditions for the 2024 U.S. corn crop didn't give trade any reason to take the market higher.  The good/excellent rating for the crop as a whole debuted at 75%, with the crop coming in well above last year's ratings for this week.  The most notable improvements were Illinois with a 22-point increase and Nebraska with a 17-point increase in ratings compared to last year.  Weather patterns and models are expecting the current wet trend to turn dry going into the second half of June and carry on into July.  This should encourage trade to buy leading into the planted acres report at the end of the month as long as our weekly crop conditions reports support it.  We still want to be sold out of old crop and over half sold on new crop going into this quarterly report at the end of the month.  Over the past few years, we've learned that prolonged dryness is not necessarily bullish.  Timely rains make a better crop than consistent rains!

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Jun 17, 2024
Down hard across the grain complex to begin the week.  Corn finished 6-7 cents lower and soybeans closed 16-22 cents lower.  It's no secret that there is a variety of little things not perfect with the corn crop.  The...
Jun 14, 2024
Grains were negative in overnight trade and weakness continued to build throughout the day. Corn gave us a very brief look at some 1 cent higher trade this morning before flipping back to the red. Corn basis and spreads...
Jun 13, 2024
Decent bounce in corn and soybeans on Thursday. With the USDA not offering much in yesterday's WASDE, the market turns back to a money flow game. Weather outlooks showing potential for some above normal...