Grain > Commentary

5/13/2022

May 13, 2022

Despite a friendly USDA report and more rains in the western corn belt yesterday, corn finished today 4-10 cents lower.  Evidence is starting to appear that our consistent high prices have cut into demand and planters are still rolling sparsely across the U.S.  Avian flu has been making its way through different areas of the U.S., condemning flocks of broilers, turkeys, and egg-layers.  

5/12/2022

May 12, 2022

The USDA announced the sale of 612k tonnes of corn to China with 68k tonnes delivered in 2021/22 and 544k tonnes delivered in 2022/23. Weekly export sales for corn were well under target with 193k tonnes in sales vs 350k tonne minimum estimate.

5/11/2022

May 11, 2022

Corn, soybeans, and wheat all posted double-digit gains one day ahead of our monthly WASDE report.  The July contract for corn settled the day near the middle of the range traded over the past two weeks, July soybeans settled on the low end of its 3-month trading range.

5/10/2022

May 10, 2022

A bit of a turnaround Tuesday with corn gaining 3-7 cents and soybeans picking up 5-10 cents on back-and-forth type trade. Buyers and sellers both struggled to establish momentum and it feels like we will probably see a small rally heading into Thursday's WASDE report

5/9/2022

May 09, 2022

"Risk off" was the theme across multiple market spaces today.  The DOW and NASDAQ Indices were down hard in the 400–500-point ranges and virtually all commodities were deep in the red.  Soybeans managed some slightly higher trade at the 7 p.m. open but most corn months were not able to even trade at unchanged. 

5/6/2022

May 06, 2022

Corn and soybeans lower from the start overnight on a sell-off in Chicago spurred into action by good weather across the grain belt. There are more and more wheels turning each day and more corn going into the ground, we're likely not as late as the market wanted to think.

5/5/2022

May 05, 2022

Large, double-digit moves higher in wheat resulted in spillover support for corn and soybeans.  Soybeans traded 20-27 higher on the day but finished well off of their highs, being brought back down to earth by the soy oil and meal trade.  Weekly export sales for corn were on target with 783k tonnes of old crop and 738k tonnes of new crop sold last week.

5/4/2022

May 04, 2022

Strength in crude oil translated into strength in soy oil, and soybeans followed suit.  Corn tried to capitalized on the double-digit move higher in wheat but, just like earlier this week, overnight strength quickly faded after the 8:30am re-open.

5/3/2022

May 03, 2022

After a day of strongly lower trade, corn and soybeans received a bump of support from the weekly crop progress report and managed to trade double digits higher during the overnight session. The market strength faded as the sun rose and the sell-off resumed shortly after the morning break.

5/2/2022

May 02, 2022

A risk premium for planting delay was priced into our grains over the past couple weeks but forecasts are improving and corn is being planted in several areas of the grain belt.  Simple reason for today's move: planting is delayed until it’s not.  The dollar index is also pushing 5-year highs which makes exports unattractive and is usually seen as negative for commodities.

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