Jul 01, 2024

Wheat led the way to open up the holiday week with gains ranging from 12-18 cents across the different classes.  Unable to finish higher on Friday after a friendly report, soybeans reversed off of fresh lows this morning, gaining traction throughout the session to finish 7-12 cents higher.  Corn struggled most of the session to hold near unchanged but pulled some bids together in the final hour to finish mostly higher with the Sep and Dec 24 contracts fractionally lower.  Weekly export inspections were with within their expected ranges but volumes are beginning to fall which should be no surprise considering the point of the marketing year we are in.  Corn inspections totaled 820k tonnes and soybean shipments came in at 303k tonnes.  The seasonal pace for soybeans remains unchanged, maintaining a 30-million-bushel surplus.  Corn shipment pace fell backwards from a 28-million-bushel surplus to a 19-million-bushel surplus.  The weekly crop conditions report later today is expected to lower the ratings on the corn and soybeans and updated weather forecasts are favoring hot and dry weather for July.  We need these to materialize to help establish a foothold in the market.

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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...