Grain > Commentary > 7-14-2023

7/14/2023

Jul 14, 2023

7/14/2023
Corn goes into the weekend with a firm 13 cent higher finish on Friday.  Soybeans worked a 30-cent range throughout the session and provided plenty of opportunity on both sides of unchanged before settling 1-9 higher.  Trade was not afraid to buy going into the weekend despite weather forecasts adding precipitation into next week.  A quick look at the corn charts shows that we have a nice setup and some room for a decent rally if these rains don't materialize.  Soybeans also have potential to break out higher with the charts forming a potential bull pennant going back to the May low.  It will be important to take notes on how November soybeans want to act inside of the 1390-1400 area if we are able to get back to those price levels.  Catching up on sales when hovering near 1400 futures isn't a terrible idea.  New crop corn in the $5.00-5.10 range is a realistic target, as well.

Read More News

9/12/2025
Sep 12, 2025
USDA report day.  Corn and beans were trading higher pre-report on thoughts of a reduction to yields.  Well....we got what we were thinking but the USDA decided to throw a twist into the mix.  The 25/26 corn yield decreased slightly less than expected by 2.1 bu to 186.7 bpa, but they gave us the largest planted acreage shift on this report in at least the last 20 years (+1.4 mil acres) spurred an increase in production to 16,814 mbu.  25/26 ending stocks were slightly lowered by 7 mbu to 2,110 mbu. 
8/21/2025
Aug 21, 2025
Today the market ran higher on rumors for positive SRE announcements coming soon.  Bean oil was up over $2.  Beans finished the day up 20 cents at 10.56 Nov futures.  There is a chance we could make a run at the 10.74 Nov highs from back in June.  If we get there, I am a seller.  Bean basis remains in the garbage, so a run higher in futures doesn't help that either.  We still don't have a trade deal, so I think any rally is short lived at this time. 
8/15/2025
Aug 15, 2025
Corn and beans both had nice gains heading into the weekend.  Corn might seem terrible as of late, but for corn to only be down 2 cents since report day is impressive.  That was one of the most bearish reports for corn we have seen in quite some time.  Corn finished the week 13 cents off its lows and unchanged for the week.  New crop corn basis has softened a little on the week as the extra 2 million acres and 8 bushels of yield from the report has also scared a few exporters off.