MarketEdge PM Comments

Nov 01, 2023

(Allison Ryan)

Grains were mixed, with corn down and beans up. December corn was down 3¾ and December ’24 was down 1¾. January beans are up 4¼ and November ‘24 were up 1½.
  • Fall insurance levels are established- corn finished at $4.88 and beans at $12.84, both down from spring prices of $5.91 and $13.76
  • There are new expanded limits on the board- corn limit is now 55 cents and bean limit is now $1.45
  • The Feds left the interest rates unchanged, which was expected
  • A little harvest pressure pushes corn lower, taking out key support after trading only a two cent spread on the overnights; corn hit a seven week low today
  • Some rumors about China buying beans pushed the market higher, taking an interest in Gulf prices for Nov-Jan timeframe
  • Soybean meal continues to flirt with contract highs, also aiding a little in pushing beans higher today
  • The Dow was up, crude was down, and the Dollar was firmer
  • Visit with your originator about locking in profits for ’24 crop, and establish a plan and offers for unpriced bushels

Read More News

Nov 01, 2023
Corn and soybean futures stayed close to unchanged overnight.
Oct 31, 2023
Corn and soybeans both traded higher today.
Oct 31, 2023
Corn and soybean futures were mixed/slightly lower overnight.