Jul 01, 2022

There was a brief attempt to trade in the green overnight but corn and soybeans gave way to weakness early on. That weakness turned into some harsh liquidation in soybeans that featured some 60 cent lower trade on the day. The follow-through selling after yesterday's acres report came out bullish for soybeans was definitely a surprise. Corn struggled to get out of its own way. Any attempt to get back within a nickel of unchanged was quickly beaten away. Wheat trade also saw another round of heavy losses and is now trading at levels last seen prior to the Russian invasion of Ukraine. This was the third consecutive weekly lower close for spring wheat which has sacrificed around $2.50/bu during that period of time. We are fairly deep into oversold territory in corn, soybeans, and wheat now. I am expecting some corrective buying to come in next week. The theme for June was largely "risk-off" across the broader markets. There were no reports or export sales today. We are only about 10 days from a fresh set of fundamentals in the July WASDE report.


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...