Grain > Commentary > 9-13-2023

9/13/2023

Sep 13, 2023

After some back-and-forth on either side of unchanged, corn and soybeans slowly found some footing going into the back half of Wednesday trade.  Corn narrowly avoided setting a new 30-month lows and turned it around for a firm gains ranging from 2-5 cents.  Soybeans traded a fresh low for the move, managing to hold a couple cents above the 200-day moving average before bouncing into the green after mid-day.  A nice reversal following such a poor performance after the USDA report yesterday.  Weekly ethanol data showed a rise in production by 27,000 barrels/day to 1.039 mln bpd.  Stocks were off by 400,000 barrels, coming in at 21.2 mln.  There were no USDA sale announcements this morning.

Read More News

9/20/2023
Sep 20, 2023
Corn and soybeans reverse fortune to come back. After trading a fresh low, corn flipped the script to close 4-6 higher on the day after running into the 20-day moving average. The 20-day MA has been a spot of resistance...
9/19/2023
Sep 19, 2023
The markets were extremely uneventful on Tuesday.  Trade was two-sided throughout the session and 10 cents or less covered the ranges in both corn and soybeans.  Weekly crop progress showed the corn and soybean crops...
9/18/2023
Sep 18, 2023
A bit of an ugly start to the week for corn, soybeans, and wheat.  Corn and soybeans held steady/sideways throughout overnight trade but immediately broke support at the 8:30am opening.  Corn finished 4 lower where...