MarketEdge PM Comments

Oct 04, 2023

(Allison Ryan)

Corn and beans closed relatively flat, with December corn down 1½ and November beans up ¼ cent. December ’24 corn was down 1 and November ’24 beans were down 2. Wheat was down 8-10.
  • A fairly uneventful day with lack of news in the marketplace; the market is waiting for the next mover, including the USDA’s October WASDE report set for next Thursday, October 12
  • Wheat was the most active, with inexpensive Russian wheat continuing to put pressure on that market
  • Corn slid back a little with pressure from wheat today; meanwhile, basis is mixed across the Midwest of the “haves” and “have nots” of corn harvest
  • The river levels on the Mississippi River continue to put pressure on basis, and potentially leading to less selling of beans across the scale this fall
  • The extended forecast for mid October looks to be normal precipitation and warmer
  • The Dow was fairly steady, crude was down, and the Dollar was softer
Have a great 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.