Grain > Commentary

4/11/2022

Apr 11, 2022

Corn and soybeans both traded 5-10 higher overnight but markets became mixed through the remainder of both sessions.  Corn set fresh contract highs from the July 22 contract forward at the 8:30am open but turned lower by midday and closed well off those marks.  Soybeans were down hard on the day with weakness setting in shortly after the 7:00pm open.

4/8/2022

Apr 08, 2022

Managed money and funds just don't care about anything market neutral or bearish. The money is here until some uncertainty is removed. The USDA report came in with smaller cuts than trade was expecting but this somehow was received as positive.

4/7/2022

Apr 07, 2022

Nothing noteworthy has changed in our fundamentals over the past 24 hours but corn and soybeans were the beneficiary of a large money flow back in.  Weekly export sales were extremely vanilla and dead center of the trading estimate ranges with 782k tonnes of corn and 800k tonnes of soybeans sold. 

4/6/2022

Apr 06, 2022

A rare quiet day of sorts in corn and soybean trade with virtually all grain and associated commodities trading weak/lower on the day with the exception being oats.  Today provided a good opportunity for us to review our markets.  We started off this morning with the USDA announcing the sale of 132,000 tonnes of soybeans for delivery to China in the 2021/22 marketing year followed by the weekly ethanol numbers showing output down 33k bpd to 1.0 million bpd and stocks off 626k barrels to 25.9 million bbls.

4/5/2022

Apr 05, 2022

Corn and soybeans churn higher through both sessions.  The July 22 corn contract set a fresh contract high of 755'4 and Dec 22 corn contract set a contract high for the 4th consecutive trading day.  Today's close in corn appeared weak with old and new crop both giving up around 5 cents in the final 1/2 hour.

4/4/2022

Apr 04, 2022

Opening calls for Sunday night were higher with corn and soybeans trading in the green for almost the entirety of both sessions after news of Russia purposefully attacking the ports in Odesa, Ukraine.  Odesa is a major exporting hub and early reports indicated significant damage that "may take years to repair."

4/1/2022

Apr 01, 2022

Short covering at the overnight open gave soybeans the appearance that they would bounce back after a sharp sell-off following yesterday's planting intentions report.  They were able to hold in the green for the first few hours but eventually gave in to lower trade.  Soybeans furthered sharply lower after the morning break when funds began liquidating their long positions, allowing futures to close below their 50-day moving averages for the first time since early December. 

3/31/2022

Mar 31, 2022

In traditional fashion, the USDA surprised the market with their estimated acres for both corn and soybeans. Corn: estimated at 89.5 million acres for 2022, down 3.87 million acres from last year (-4%) Soybeans: estimated at 91.0 million acres for 2022, up 3.8 million acres from last year (+4%) All Wheat: estimated at 47.4 million acres for 2022, up 0.6 million acres from last year (+1%)

3/30/2022

Mar 30, 2022

Yesterday: Russia announced they would be withdrawing troops from Kyiv, war premium in grains eroded. Today: Russia announces there has been no breakthroughs in talks with Ukraine, grains jump in some spring-board type action. Daily highs were set early, only about a half of an hour into trade after the 8:30 market opening.

3/28/2022

Mar 28, 2022

Huge risk off that began almost immediately at the 7:00pm open last night.  Almost all of our active corn and soybean traded exclusively in the red today with the exception of the September and December 2023 corn contracts which managed to trade 1-2 cents higher.  The USDA offered some information to chew on with a couple sales announcements at 8 a.m. this morning that included 132k tonnes of soybeans to China during the 2021/22 marketing year and 127,920 tonnes of corn to unknown split approximately 60/40 between 2021/22 and 2022/23 deliveries. 

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