Grain > Commentary

6/1/2022

Jun 01, 2022

Corn has gone into major reversal mode, with July corn breaking hard below its 50-day moving average over the past two trading days.  Our next major support levels are the 100-day moving average, which sits below at 712'6, and the major lows from the second half of March in the 695 area. 

5/27/2022

May 27, 2022

Corn and soybeans spent the overnight session trading back and forth on either side of unchanged until around the 6:30-7:00am timeframe when large buying interesting came in on corn. Corn futures continued to run higher throughout the morning until mid-day when intraday highs were set and volume waned into the long weekend.

5/26/2022

May 26, 2022

A huge buying surge in soybeans sent 2022 contracts to trade 37-56 cents higher with the board out to Sep 23 finishing in the range of 16-45 cents higher.  China rumors? Crush? Russia closing the Black Sea corridor?  No one seemed to have the answer.

5/25/2022

May 25, 2022

Sell pressure in corn and soybeans after major production areas edge closer to finishing planting and show moisture and HEAT in the forecast this weekend, which could result in a fast start to a delayed crop.

5/24/2022

May 24, 2022

Corn and soybeans tried to trade higher overnight despite better-than-expected planting progress in the week's report but succumbed to the weakness in wheat. Corn was seen at 72% planted (68% trade, 79% avg) and soybeans at 50% (49% trade, 55% avg).

5/23/2022

May 23, 2022

Corn and soybeans both higher overnight to start begin the week, keying off of a late spring frost in parts of the growing region and rain continuing to disrupt planting for some of the U.S. Soybeans traded 11-15 higher out through July of 2023 but was sold-off shortly after the morning break.

5/19/2022

May 19, 2022

Corn traded 2-8 cents on either side of unchanged to finished mixed on the day from 4 lower to 2 higher after pulling itself off of intraday lows to capitalize off the strength in soybeans.  Soybeans shook off the overnight weakness and held its large gains on the day with credit given to a good week of export sales and strength in meal. 

5/18/2022

May 18, 2022

Wide-spread, heavy selling took over the commodity and stock market spaces today.  Wheat led the sell-off overnight, getting additional momentum early this morning after SovEcon raised its wheat production forecast by 1.2 million tonnes to a record high of 88.6 million tonnes and acknowledging potential to increase that number further.

5/17/2022

May 17, 2022

Corn and soybeans were both down sharply to start last night.  The price action was definitely more technical than fundamental with the gap on the July soybean chart being filled and trade reversing higher.  Corn managed to trade higher briefly following the morning break but was held down in the red for close to the entirety of the day. 

5/16/2022

May 16, 2022

Riding the coattails of limit higher trade in wheat, corn and soybeans posted large gains to start our week.  After gapping higher on the open, corn finished the day 9-28 higher and soybeans 2-13 higher.  Weekly export inspections for corn were on the lower side of the trade range at 1.037 million tonnes inspected and soybeans on the upper end of their range at 784k tonnes inspected. 

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