Corn and Soybeans Begin Week Lower
Corn and soybeans start off their week lower on technical selling.
In the overnight corn is trading 2 3/4 pennies lower, soybeans is down 2 3/4 cents and wheat is up 1/2 a penny after closing last week near one month lows. This weekend the Korea Feed association purchased 110,000 metric tons of corn from optional origin.
Mixed Trade to Close the Week
Cody and Kevin discuss mixed export sales and weekly basis changes around the country.
Weekly Cash Comments
Cash basis commentary for week of January 23
Soybean futures continued to erode this week giving up 14 cents a bushel while corn found modest strength in a 3 cent advance. In the cash market, basis movements were fairly muted this week with US average corn basis gaining 1 cent a bushel while soybeans added 2 cents to the US average...[Read More]
Huge Corn Sales Surprise the Market
This week's corn sales were reported at marketing year highs doubling analyst expectations.
In the overnight, soybeans and wheat traded lower slipping 5 ¾ and 5 ¾ cents respectively, while corn stayed mostly unchanged increasing by ¼ cent. The export sales report was very supportive for corn, neutral for wheat and bearish for soybeans which missed analyst expectations by a...[Read More]
Difficult for Corn and Soybeans to Find Traction
Cody and Kevin break down the ethanol numbers released today. Tune in to hear them discuss what was weighing down the corn market and what may have influenced lower bean prices after a positive overnight session.
Will Ethanol Production Stay Ahead of Pace
Ethanol production has been running well ahead of pace to meet USDA expectations all year, will we begin to see production soften this week?
In the overnight session the grains traded slightly higher with corn up 3/4 of a cent, soybeans up 3 1/4 cents and wheat up 3 ¾ cents. Soybeans are trading at $9.87 ½ just below $9.91 which is the low side of the sideways range it traded in since late October. The low side of the range which...[Read More]
River Basis Shows Strength
Kevin and Cody discuss what is supporting river basis and give a summary of where they think the wheat market is heading.
Wheat Jumps in Early Morning
Grains are mixed this morning with wheat showing strength after a sharp sell off over the last 20 days.
Grains are mixed in the overnight session with corn down ¾ of a cent, soybeans up 1 ½ cents and wheat up 7 cents after a sharp selloff over the last 20 days helped U.S. wheat gain some competitiveness on the global market. Also helping wheat is the accusations out of Kiev that Ukrainian...[Read More]
Support for Wheat?
Cody and Kevin discuss where wheat might be heading this week. They also look to ethanol numbers to see how they might effect corn.
Cody and Kevin discuss where wheat might be heading this week along with taking a look to ethanol numbers to see how they might effect corn.
Another Chinese Soybean Cancellation
In the overnight session the grains traded lower with soybeans leading to the downside by 8 ¼ cents by the morning pause. Corn slipped 3 ½ cents and wheat slid 1 ½ cents on Tuesday morning. Soybeans are now trading below key support at $9.91 as higher than expected ending stocks coupled...[Read More]
Mixed Trade to Close the Week[Read More]
Weekly Cash Comments
Grain futures fell sharply this week following the release of USDA’s revised supply and demand data. As a result, corn futures were off 14 cents, while front-month Mar soybean futures plummeted 57 cents. In the cash market, basis improved on average by 2 cents for soybeans and 3 cents for...[Read More]
Soybean Cancellations Add Bearish Sentiment to Market
The grains were mixed in the overnight with corn up 1 ¾ cents, soybeans down 2 cents and wheat up 3 ¼ cents going into the morning pause in trade. In a report from FAS this morning, China canceled 285,000 metric tons of Soybeans which will likely pressure the market lower this morning. FAS...[Read More]
Export Sales and NOPA out Today[Read More]
Export Sales Support Bounce in Grains
In the overnight session we have seen some buyers come back into the market with corn up 4 ½ cents, soybeans up 6 ½ cents and wheat in Chicago up 4 ¼ cents. Yesterday, corn and soybeans both found some support with soybeans dipping below $10 during the day but closing the session at 10.10...[Read More]
Grains Continue to Feel Pressure from Monday’s WASDE[Read More]
Grains Continue Slide in the Overnight
The grains continued their selling in the overnight after a sharp day lower caused by significant fund liquidation. Going into the morning pause in trading corn is down 6 cents, soybeans is trading down 6 cents and wheat is 5 ¾ cents lower. March soybeans has broken through $10 and...[Read More]
Grains Trade Lower[Read More]
So Where Do Prices Go From Here
In the overnight session the grains bounced with corn up 3 ¼ cents, soybeans were up 7 ¼ cents and wheat trading 10 ½ cents higher going into the morning pause. This morning's trade session should be supported by a nice export sale of 105,000 metric tons of old crop corn sold to unknown...[Read More]