MarketEdge PM Comments

Jun 03, 2023

(Taylor Bensenberg)

Good afternoon,
We ended the week in the green for a change. July corn closed up 16 ½ at 6.09 and December corn closed up 11 ¼ at 5.4125. July soybeans closed up 23 at 13.5250 and November beans up 14 ¾ at 11.8375. 
  • Brazil’s large crop is weighing on the corn and soybean market
  • Soybean prices are also being influenced by Chinese demand concerns
  • Export sales were released earlier today:
    • Old crop corn came in at 186,700 MT
    • New crop corn came in at 312,600 MT
    • Old crop soybeans came in at 123,400 MT
    • New crop soybeans came in at 301,000 MT
  • Ukraine made a statement that Russia is now blocking the registration of ships headed for Ukrainian ports which is disrupting the Black Sea grain export deal
  • It appears as if Brazil will now be the top exporter of corn, taking the title from the U.S.
  • The Senate has approved legislation to extend the debt ceiling, the bill now has to be signed by the President.
Have a great weekend!

Read More News

Jun 30, 2023
September corn closed down 35 cents at 4.8850 and December corn closed down 33 ¾ at 4.9475.
Jun 30, 2023
​Good Morning.  It is Report Day.  At 11am, USDA will release the highly anticipated Quarterly Stocks and Acreage Reports.
Jun 28, 2023
Grains continue their free fall today with rain continuing to fall and/or be forecasted for parts of the corn belt most needing a drink.