Aug 18, 2022
Trade was two-sided and choppy as corn and soybeans struggle to find direction while the market tries to figure out what this year's production will be. December corn traded 8 higher and November soybeans were 23 higher near the mid-day point but, once again, a largely negative wheat trade (30-38 lower) acted as an anchor and pulled corn and beans off of their highs. Overall, soybeans appear to be set up for an ideal finish for a good crop and, although corn maybe missed an ideal big rain by the matter of a handful of days, the outlook appears to be average yields for the US corn crop. Weekly export sales for old crop corn came in at 99k tonnes of net sales, only about 1/3 of what is needed for the next few weeks to meet the USDA target for the year. Old crop soybeans were reported at 97k tonnes of net sales. New crop sales came in over the top of expectations for corn with 750k tonnes sold and new crop beans came in strong 1.303 mln tonnes sold last week, doubling up the high trade estimate. New crop sales continue to lag behind last year's pace for corn but new crop soybean sales on the books are excellent. As of this morning, a total of 25 grain carrying vessels have now departed from Ukraine. Continue to look at rolling your December corn hedges to March, a move that would still net you 6 cents of carry at the close today.
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Nov 27, 2023
Corn and soybeans begin the week down as lower continues to be the path of least resistance. Grains as a whole were largely weaker with wheat double-digits lower and corn finishing with 5-7 cent losses and new 2 1/2...
Nov 22, 2023
Once again, soybeans were the price leader but trade was in heavy risk-off mode in soy. Corn and soybeans bounced around between 1-3 cents lower overnight before selling took over after the morning break. Rains...
Nov 21, 2023
January soybeans have now traded a sixty-cent range over the past two days which includes their lowest quote since November 3 and also trading within a dime of the 3-month highs set just last week. Today's session...