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.
Have a good evening,
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,