9/21/2020

Sep 21, 2020


9/21/2020
Today was correction day.  Corn and beans traded slightly lower on the overnight, but trended lower the entire day.  It feels like this correction was overdue and a setback here is rather healthy for the markets.  $10.00 November futures is likely in the cards this week as we will see our first real week of harvest pressure.  Weather looks ideal for harvest for the next 14 days as we remain above normal on temps and below normal on moisture.  The 3:00 ratings had corn up 1% good to excellent and beans unchanged.  Corn is 8% harvested and beans are 6% harvested.  The USDA announced 132 mt US soybean to China, 171 mt US soybean to unknown and 132 mt US soybean to Pakistan. The Dow was down nearly 1,000 points at the time of the grains close, but has closed down 500. 
 

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...