Sep 14, 2020

Beans made new high overnight at 10.0875 futures, but were unable to match those highs in the day session.  We had another great round of sale announcements this morning.  350,000 metric tons of corn for delivery to China, 106,000 metric tons of corn for delivery to Japan, 129,000 metric tons of soybeans for delivery to China, and 318,000 metric tons of soybeans for delivery to unknown.  That is quite the list again and we will take it!  Managed funds are now net long 55,000 corn and 199,000 soybean contracts.  Weekly export sales were great once again for corn and beans, which we already knew.  Debate continues about if China needs these sales or adding to reserve in case US and China relations sour.  Crop ratings were out at 3:00 with corn down 1% at 60% good to excellent.  Beans were down 2% at 63% good to excellent.  The plant is supposed to be dying now remember, just saying.  It still feels like the right thing to do is scale up selling, because one never knows when we top out and I sure don’t want to miss out on this opportunity with soybeans.  This is a dream type level only a month ago, now it is reality.   

Read More News

Apr 24, 2024
Profit taking was the feature of corn and soybean trade after corn rallied 20 cents and soybeans rallied 46 cents over the past week.  Spread correction was also seen today with May price spreads widening back out 1-2...
Apr 23, 2024
After struggling a bit on the tail end of overnight trade, corn and soybeans traded steady higher and looked their most firm heading into today’s close. After chugging higher for a third consecutive day, we viewed some more...
Apr 22, 2024
Some really nice follow-through after Friday's recovery resulted in some key technical signals for trade. Each pullback throughout the day was met with some fast buying. Corn and soybeans followed wheat's lead. Wheat...