MarketEdge AM Comments

Apr 17, 2023

(Cody Forde)

Good morning,
Corn and soybeans started lower Sunday night and then turned to the green side of the coin by this morning. December 23 corn last trade was 5.62^2 up 2^2, and November soybeans last trade 13.05^4 up 4^0. What changed over the weekend?  Weather, cooler temperatures and snow started to push into the northern part of the Midwest.  With conflicting forecast it was hard to know what would transpire over the weekend and following week. Current models show us cooler and a little wetter then expected. This should help put a floor under both new crop contracts for the time being. This afternoons crop progress report should show near a record in corn planting progress, but we’ll have to wait and see what the USDA has for us.  Over to the energy side we have a mixed bag, crude oil is down 32 cent per barrel leaving the index at 82.20, while natural gas is pushing higher up 2.98%. Metals are pushing green with Gold up 5.90 per OZ to put front month gold at 20217. Silver is joining along adding .060 per OZ to give Silver a push to 25.520.  Equities are relatively unchanged with the E-mini Dow up 13 point to set at 34,050. I will be looking for a firming start to both corn and soybeans this morning. Have a great day!

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Apr 27, 2023
Grain prices were in the red again today.
Apr 27, 2023
Corn and soybean futures were lower overnight.
Apr 26, 2023
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