MarketEdge PM Comments

May 25, 2023

(Sam Bair)
Good evening, the markets were both up and down today and finished mostly down aside from old crop corn. July corn futures were up 3^4 closing at 590^6, new crop corn was down -4^0 closing at 516^0. July bean futures are down -0^4 closing at 1324^0, new crop beans are down -12^6 closing at 1172^2. While markets have been heading lower a corrective bounce could be imminent. We encourage growers to have offers in as they could trigger on the overnight session and not be reached during the day session.
  • It is estimated the funds have bought 3-5000 contracts of corn, sold 2,000 contracts of wheat, and sold 3-5000 contracts of soybeans.
  • Biden, McCarthy seem to be closer to deal, although nothing finalized in Thursday's talk.
  • Canceled exports drive lower new crop corn, while local demand drive nearby prices.  
  • Bean prices were pulled down by soybean meal.
  • The forecast continues to show above normal heat, and little if any precipitation for our area and most of the Corn belt through next week.
  • The livestock markets were mixed, as hogs are lower and cattle are higher.
  • Nasdaq and S&P are both up, while DJI is lower

Read More News

May 31, 2023
As May wraps up, grains came back from their double digit down earlier today.
May 31, 2023
​Good Morning.  Corn and soybean futures were sharply lower overnight.
May 30, 2023
Good afternoon, the markets were lower on slightly better rain coverage coming later in June