MarketEdge PM Comments

Nov 09, 2023

(Sam Bair)
Good evening, markets are down after today’s session. December corn futures are down 8 cents closing at 468^0, while March corn futures finish 7^2 cents lower closing at 482^6.  January bean futures are down 22^2 closing at 1343^4, and March bean futures are down 19^4, closing at 1357^4. Wheat finished lower today.
  • USDA Report
    • Corn- Yield raised to 174.9bpa vs 173bpa in October, raising carryout from 2.111 billion bushels in October to 2.156 billion bushels.
    • Beans- Yield raised to 49.9bpa vs 49.6bps in October, raising carryout from .220 billion bushels in October to .245 billion bushels.
  • This report weighed heavily on the markets today, hopefully traders have digested it, and we can get a rally tomorrow!
  • Corn Exports last week came in at 1015.3 MT, within expectations. (748.1MT last week)
  • Bean Exports last week came in 1,080.2 MT within expectations. (1010.0MT last week)
  • Livestock finish mixed, hogs trade on both sides while cattle finish in the red.
  • Dow Jones, Nasdaq, and the S&P 500 finish lower and the US dollar finishes in the green.
Have a good evening,

Read More News

Nov 30, 2023
Corn took the lead while soybeans treaded water lightly.
Nov 30, 2023
​Good Morning.  It is First Notice Day for December corn futures.
Nov 29, 2023
Corn and soybeans traded both sides of the coin today.