Grain > Commentary

4/28/2022

Apr 28, 2022

Corn was higher from the start overnight with fresh board length following a day filled with rumors of Chinese interest in more U.S. corn.  This morning, the USDA confirmed an export sale of 1,088,000 tonnes of corn for delivery to China, with 476,000 tonnes delivered in the 2021/22 marketing year and 612,000 tonnes delivered in the 2022/23 marketing year.

4/27/2022

Apr 27, 2022

Corn and soybeans were lower overnight and immediately jumped higher at the 8:30 morning open. The rumor in Chicago was that China had made another significantly large purchase of U.S. corn. The corn planting pace in the U.S. remains minimal but pictures of planters rolling across fields are becoming an increasingly common sight on social media.

4/26/2022

Apr 26, 2022

Soybeans and soy oil rebounded early, following crude oil's bounce back.  After trading 17-21 higher, strength faded throughout the session and the July and August 2022 flipped lower.  New crop beans regained the 1500'0 futures level and closed a couple cents above that mark.   Corn traded 7-12 higher and was able to hold a good portion of those gains in the deferred months.

4/22/2022

Apr 22, 2022

It appeared that we would finish our week on a strong tone with corn trading 9 higher and soybeans 15 higher towards the end of the overnight session.  During the morning break, we received news that Indonesia would halt all palm oil exports which sent soy oil to trade new all-time highs.  The USDA also made some sale announcements this morning:

4/21/2022

Apr 21, 2022

After trading lower overnight, soybeans recovered to finish 2-7 higher on the day on simple money flow in.  After an extremely bearish acres report last month, soybeans have made a miraculous recovery and are only a couple strong days from surpassing contract highs set on the evening Russia invaded Ukraine.  Corn was lower out of the gate overnight and was not able to trade unchanged anywhere.

4/20/2022

Apr 20, 2022

Strong money flow in on the front months for corn and soybeans. Big gains on the front end trickled down to the deferred months. After shrugging off some early morning weakness, May and July corn finished 10-11 higher on the day with modest gains on September 2022 and further out.

4/18/2022

Apr 18, 2022

Most commodities were strongly higher to begin a new week following a 3-day break from the market.  Money had new energy today with cold temps and winter like weather persisting across the grain belt, keeping planters parked.  Also adding fuel to the fire was a fresh Russian offensive in Ukraine where it is now expected that 40% of the wheat will not be harvested and an estimated 36% of total corn production area is considered to be inside "dangerous" regions.

4/14/2022

Apr 14, 2022

Corn and soybeans both firmed higher overnight into the day session and finished the week mixed.  Near the mid-day point of the session, corn did a round trip from daily highs to daily lows, trading around 8-9 cents each way in the matter of roughly one hour, only to set fresh contract highs again after noon.

4/13/2022

Apr 13, 2022

Trade pulled a bit of a head fake overnight and early in the day session with corn down 5-10 and soybeans 15-20 lower, giving the impression that someone was trying to sell this off.  Corn found solid buying interest at that level and was able to pop to new contract highs late in the day. 

4/12/2022

Apr 12, 2022

It’s that time of year when the market begins paying close attention to U.S. planting progress.  We have very little room for error with this year's crop and the weekly report showed that U.S. corn planting did not advance from the previous week's report.

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