MarketEdge PM Comments

Apr 27, 2023

(Taylor Bensenberg)

Good afternoon,
 Grain prices were in the red again today. July corn closed down 19 ½ at 5.8150 and December corn closed down 12 ¾ at 5.3075. July soybeans closed down 11 at 14.0375 and November beans down 11 ¼ at 12.5550.
  • Favorable planting conditions across most of the corn belt this week and next is making it hard for grains to find positive momentum
  • This morning the USDA announced that China canceled a 12-billion-bushel export order which is causing demand concerns
  • December corn broke through the key support that we had held for over a year
  • International demand for beans has softened and there is more competition in the oilseed market this year
  • Soybean crush margins are tighter due to the fact most buyers are covered and are waiting for prices to come down before locking in more tonnage
Have a great night!

Read More News

Apr 27, 2023
Corn and soybean futures were lower overnight.
Apr 26, 2023
Another dismal day in the corn and wheat markets, and beans were mixed.
Apr 26, 2023
Nearby corn futures were slightly higher, deferred corn contracts were lower, and soybean futures were higher overnight.