MarketEdge PM Comments
May 04, 2023
(Sam Bair)
The markets were mixed and gave back some of yesterday’s gains. July corn futures are up 0^4 closing at 589^0. Dec Corn futures are down -2^0 closing at 528^4. July beans are up 0^2 closing at 1417^6 and Nov bean futures down – 3^6 closing at 1268^4.
The markets were mixed and gave back some of yesterday’s gains. July corn futures are up 0^4 closing at 589^0. Dec Corn futures are down -2^0 closing at 528^4. July beans are up 0^2 closing at 1417^6 and Nov bean futures down – 3^6 closing at 1268^4.
- Turkey, Russia, Ukraine, and the United Nations will meet on Friday, May 5, to discuss a deal that allows the exports of Ukrainian grains on the Black Sea
- WASDE is expected to cut corn and soybean exports next week as a result of Brazilian export pace.
- Traders are concerned with US regional banks tightening credit.
- Rains are expected across the central plains where rain is desperately needed.
- Weather in the Corn Belt looks favorable for some to finish planting.
- Russia blames US for drone at Kremlin, claiming it was an assassination attempt of Putin.
- Soybean export totals were the highest in 3 weeks @290,000 MT but still lower than last year’s same week total.
- Dow Jones Industrial finishes down -286.5 closing @33,127.74
- Crude oil and Natural gas both finish down