7/22/2021

Jul 22, 2021


7/22/2021
Corn and soybeans both down hard from the start of the overnight session last night and throughout the day but did manage to come back firmly off their lows, cutting losses in half.  Weather models plugging some rain into areas that need it 11-15 days out along with a poor week of export sales were cited as the reasons for the sell-off.  Sales for old crop netted 62k tonnes in soybeans and 88k tonnes of cancellations in corn with China cancelling 160k tonnes of old crop corn.  New crop sales were underwhelming with only 48k tonnes of corn and 176k tonnes of soybeans sold.  Wheat no old crop sales last week but did net 473k tonnes of new crop sold.  If cancellations for old crop corn becomes common, it will be interesting to see how this could affect our carry out number going into harvest.  An increase in ending stocks ahead of the biggest time of year for corn movement would be a tough hurdle for anyone bullish to overcome and, essentially, cap this corn market.  The front-month spring wheat futures traded 26 lower early and rallied back to finish 6 higher on the day.

Read More News

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....
Aug 12, 2024
The USDA's August WASDE report gave the market more than just a snack to chew on. We are finally seeing some official numbers get hashed up after a planting season that had many wondering about acres. The report...