MarketEdge PM Comments

Oct 19, 2023

(Sam Bair)
Good evening, markets finish in the green after trading on both sides. December corn futures are up 13^0 pennies closing at 505^0, while March corn futures finish up 10 and a ½ closing at 517^0.  November bean futures are up 4^4 closing at 1315^4, and January bean futures are up 2^4, closing at 1331^6. Wheat finished strong, closing in the green.
  • Last week’s sales exports-
    • Corn- 881K tons within the expected range of 500k-1.1 MMT
    • Beans- 1.372 MMT within the expected range of 950k- 1.625 MMT
  • Today Dec 23 corn broke through the 500 resistance and finished above 5.00 for the first time since the beginning of August.
  • Spreads in contracts are getting narrower, but there is still decent value if you have interest in rolling any HTAs, please contact your originator with any questions.
  • Livestock finish split, with cattle finishing in the red and hogs trading on both sides.
  • Dow Jones, Nasdaq, and the S&P 500, and the US dollar all finish lower.
Have a good evening,

Read More News

Nov 01, 2023
Grains were mixed, with corn down and beans up.
Nov 01, 2023
Corn and soybean futures stayed close to unchanged overnight.
Oct 31, 2023
Corn and soybeans both traded higher today.