Grain > Commentary > 7-17-2024

7/17/2024

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 unchanged, ending Wednesday down 2-4 cents.  Trade is viewing any type of small rally as another selling opportunity.  The weekly ethanol report showed a nice 52,000 barrels/day bump in production to 1.106 mln bpd.  Stocks were also off by 400k barrels for the week, down to 23.2 mln bbls.

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