7/1/2022

Jul 01, 2022


7/1/2022
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.

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Mar 11, 2025
The monthly USDA WASDE report was today and it was about as boring as it can get.  The USDA took the month off leaving corn and beans carryouts unchanged.  Corn remains at 1.540 billion bushels and beans at 380 million bushels.  World ending stocks were slightly lowered on both corn and beans.  World corn was pegged at 288.94 million tonnes vs 290.3 million tonnes previously.  World beans were pegged at 121.4 million tonnes vs 124.3 million tonnes previously.  All of the South American crop production estimates were also left unchanged.  
Aug 30, 2024
Corn picks up 10 cents and soybeans improve just over 25 cents on the week to go into the holiday weekend on a positive note.  Soybean export sales have picked up the pace in a big way.  At the end of last week, sales...
Aug 23, 2024
Corn trade was flat at 2 lower throughout a majority of the day to take us back to where we started the week.  Soybeans were 9-11 higher in what looks to be a dead-cat bounce in the middle of nowhere on the charts....