MarketEdge PM Comments

Jun 26, 2023

(Caleb Kaufmann)
Corn saw its highs for the day put in this morning and traded near unchanged the rest of the session. Beans had a similar story but were better able to hold on to their gains, though still closed off the highs. September corn closed down ¾ of a cent at $5.84, December corn was up a ¼ of a penny to $5.8825, August beans were up 20 ½ to $14.2450, and November beans close up an even 13 at $13.23.
  • The US corn crop is rated 50% G/E vs. 52% expected, 55% last week and 67% last year.
    • Iowa 56% (-3%), Illinois 26% (-10%)
  • The US bean crop is rated 51% G/E vs. 51% expected, 64% last week and 64% last year.
    • Iowa 48% (-2%), Illinois 25% (-8%)  
  • Export inspections for both corn and beans came in lower than expected and under the needed pace to reach the USDA’s projections. For beans, it marks the 7th consecutive week below that “needed” pace.
  • The June 30 Stocks and Acres report looms over this week’s trade

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.