8/31/2021

Aug 31, 2021


8/31/2021
Corn and soybeans post another day in the red as the seasonal downtrend ahead of harvest rolls on.  The market spent today trying to assess the impact of hurricane Ida and how it affects export shipping.  The USDA's 2021/2022 export targets for corn and soybeans are already at risk of being unattainable.  Spreads have weakened to 12-15 months lows, now is an excellent opportunity to roll hedges forward ahead of harvest and grab some good carry in the market.  Dec to Mar corn spread closed at an 8-cent carry and Dec to May corn spread would pick up 12 cents.  The Nov to Jan soybean spread closed at a 7-cent carry, 2 cents off its contract low.  Today was the final day for the 2020/2021 marketing year for corn and soybeans and we closed it out with no daily export sale announcement.  It seems as though mother nature has flipped the switch and we are now in a wetter weather pattern with precipitation steadily forecasted going into September.  It wouldn't be a surprise to see risk continue to be taken off going into the long Labor Day weekend.

Read More News

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...