MarketEdge PM Comments

Oct 24, 2023

(Sam Bair)
Good evening, markets are split after today’s session. December corn futures are down 6^2 pennies closing at 484^0, while March corn futures finish 10 and a ½ pennies lower closing at 498^0.  November bean futures are up 8^4 closing at 1295^2, and January bean futures are up 9^0, closing at 1314^4. Wheat finished lower today.
  • Monday, China signed purchase agreements with the US for the future purchase of US soybeans at a later date. The deals also included some corn, sorghum, and wheat.
    • This helped support the bean market today.
  • Much of south America is looking to be wetter in the 6-10 day window, if that happens it could add pressure to our markets.
  • US corn harvest is at 59% complete.  Iowa at 62% complete and Illinois at 70% complete.
  • US soybean harvest is at 76% complete.  Iowa is at 87% complete and Illinois is at 80% complete.
  • Livestock finish mixed, with cattle and hogs trading on both sides.
  • Dow Jones, Nasdaq, and the S&P 500, and the US dollar all finish higher.
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.