MarketEdge PM Comments

Dec 30, 2023

(Taylor Bensenberg)

Good afternoon, 
March corn closed down 3 at 4.7125 and May corn closed down 2 ½ at 4.84. March beans closed down 14 cents at 12.98 and May beans closed down 14 ¼ at 13.0725. 
  • Still seeing holiday trade mixed with South Americas weather and Russia/Ukraine news.
  • Russia unleashed the biggest air attack on Ukraine since the start of the full-scale invasion.
  • The Red Sea is still being sieged by Iranian-backed Houthi militants posing issues for vessels. 
  • Since the start of 2023, beans have dropped nearly 14% followed by corn at 30%. 
  • I think Matt Campbell with StoneX said it best with the below commentary to close out the year:
    • "Overall, to wrap up, 2023 was "a bumpy transition to normal", in my opinion. We have had a few geopolitical issues, transportation issues, and Mother Nature issues....but overall, commodities have calmed down and are trying to find where a "new normal" might be. I would guess 2024 will be a year where we FIND that new normal."
  • The markets will be closed New Years Day and will reopen Tuesday at 8:30 AM.
Have a great weekend!

Read More News

Dec 28, 2023
Good Morning.  Corn and soybean futures finished the overnight session slightly higher. 
Dec 27, 2023
Grains were mixed today, during a relatively quiet week in between holidays and light trading volume.
Dec 27, 2023
Good Morning.  Corn and soybean futures were lower overnight.