MarketEdge PM Comments

Mar 31, 2023

(Taylor Bensenberg)

Good afternoon,
We survived another report day! May corn closed up 11 at 6.6050 and new crop down ½ at 5.6650. May soybeans closed up 31 at 15.0550 and November beans up 16 ¼ at 13.1975.
  • Corn stocks came in at 7.401 billion bushels
  • Bean stocks came in at 1.685 billion bushels
  • The projected corn acreage is 91.9 million acres
  • The projected bean acreage is 87.5 million acres
    • The above data is bearish corn and bullish beans
  • South America’s weather is being looked at again since the region where the second corn crop is grown is abnormally dry and will remain that way for awhile
  • If your inputs are locked in for this spring, now is the time to start offsetting some of that risk with grain sales