MarketEdge PM Comments

Apr 20, 2023

(Sam Bair)

Good afternoon,
The close finished red across the board again this afternoon, for the second day in a row. May corn is down 8^4 trading at 663.75, Dec corn is down 5^4 trading at 557.5. May Soybeans are down 9^0 trading at 1497.5, and Nov beans are down 9^0 trading at 1300.5.
  • Although models have lessened the predicted amount, the Plains region and western corn belt are expecting a much-needed rain.
  • It is estimated the funds have sold a 8,400 contracts of corn, 6,700 contracts of soybeans, as well as 3,800 contracts of soyoil, and 4,200 contracts of soymeal.
  • Brazil has harvested a record soybean crop, 14MMT larger than prior record of 154MMT.
  • Brazilian markets are offering soybeans $1.85 lower than that of US Gulf price, a likely proponent on the less than spectacular US bean export numbers.
  • The current spread on May to July futures inverse continues to widen.
  •  Corn exports were at a 14- week low, China being the biggest buyer, Soybean exports were at a 4-week low.
  • China sow numbers were at 43.05mil head, 2mil head over their target number.

Read More News

Apr 27, 2023
Grain prices were in the red again today.
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.