MarketEdge PM Comments
Dec 21, 2023
(Sam Bair)
Good evening, grains finished mixed after today’s session. March Corn futures are up 2^6 closing at 472^4, and Dec 24 corn futures are up 2^0 closing at 503^6. January Bean futures are down 11^0 closing at 1297^2, and Nov 24 bean futures are down 10’6 closing at 1253^0. Wheat finishes higher after the day session.
Last week's weekly sales exports all grains came within expectations, with corn at 1.013MMT, soybeans at 1.989MMT, and wheat at 323K metric tons. Wheat helped support corn contracts today, and beans continue to trade on the South American weather. Ships continue to be attacked in the Red Sea, causing more concern for trade transport through the Suez Canal forcing some shipments South around the Cape of Good Hope. Two railways connecting the US and Mexico are currently closed, causing yet another headache for trade and exports.
Good evening, grains finished mixed after today’s session. March Corn futures are up 2^6 closing at 472^4, and Dec 24 corn futures are up 2^0 closing at 503^6. January Bean futures are down 11^0 closing at 1297^2, and Nov 24 bean futures are down 10’6 closing at 1253^0. Wheat finishes higher after the day session.
Last week's weekly sales exports all grains came within expectations, with corn at 1.013MMT, soybeans at 1.989MMT, and wheat at 323K metric tons. Wheat helped support corn contracts today, and beans continue to trade on the South American weather. Ships continue to be attacked in the Red Sea, causing more concern for trade transport through the Suez Canal forcing some shipments South around the Cape of Good Hope. Two railways connecting the US and Mexico are currently closed, causing yet another headache for trade and exports.
- Livestock finish mixed as hogs and cattle trade on both sides today.
- Dow Jones Index, the S&P 500, and the Nasdaq finish higher as the US dollar finish lower.