MarketEdge PM Comments
Aug 18, 2023
(Taylor Bensenberg)
Good afternoon,
Three days in a row closing in the green! September corn closed up 6 ½ at 4.7950 and December corn closed up 7 ¼ at 4.93. November beans closed up 23 ¼ at 13.5325.
Good afternoon,
Three days in a row closing in the green! September corn closed up 6 ½ at 4.7950 and December corn closed up 7 ¼ at 4.93. November beans closed up 23 ¼ at 13.5325.
- Wheat prices popped up overnight when another Ukrainian drone damaged a structure in Moscow, which in turn put corn and beans in the green as well
- Soybeans are closing in on the peak reproductive phase and the hot/dry weather coming next week has the market concerned
- The ProFarmer tour kicks off on Monday and I would expect the market to be watching the results closely
- River levels are still dropping which could run barge freight up sooner than anticipated going into harvest
- In the coming weeks the flooding that is happening in China might work its way into the grain prices
- The RVC Crop Tour wraps up on Wednesday, August 23rd, stay tuned for the results