Grain > Commentary > 9-7-2023

9/7/2023

Sep 07, 2023

Corn and soybeans were stuck in lower trade in a very quiet Thursday.  Corn was uneventful with closes ranging from unchanged to down 1 cent on the day.  December 23 corn was the sole higher finish with a 1/2 cent gain.  Soybeans saw the remaining fresh length from the beginning of the week squashed out of the market, trading two-week lows and finding some basic technical support at the 50-day moving average.  Soybeans closed with 8-16 cent losses.  Weekly ethanol data showed production rising 5,000 barrels/day to 1.012 mln bpd.  Stocks were up slightly on the week.  Despite several of its own loading facilities damaged, it is reported that Ukraine has begun to export grains through Croatia.  Early dryland yield reports out of Kansas and Nebraska give no indications of a crop disaster.

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