MarketEdge PM Comments

Jul 14, 2023

(Taylor Bensenberg)
Good afternoon, 
September corn closed up 13 cents at 5.0650 and December corn closed up 13 ¼ at 5.1375. August beans closed down 4 ½ at 14.8025 and November beans closed up 1 at 13.7075. 
  • Strength in the market is being led by weather and a weaker U.S. dollar 
  • 63% of corn acres are still considered in a drought
  • Yield for both corn and beans remain a concern
  • The Black Sea grain deal is set to expire Monday and renewal looks unlikely 
    • If they don't extend the deal Turkey claims they will send their ships to escort others out to sea
    • Will Putin retaliate and attack ports? If so, this might provide support to the grain markets
  • Soybean crush numbers for June will be released Monday and are expected to be lower than May
Have a great weekend!

Read More News

Jul 31, 2023
​Good Morning.  Corn and soybean futures were sharply lower overnight. 
Jul 28, 2023
The market closed in the red to end the week.
Jul 28, 2023
​Good Morning.  Corn and soybean futures were lower overnight.