MarketEdge PM Comments

Oct 06, 2023

(Taylor Bensenberg)

Good afternoon, 
December corn closed down 5 ½ at 4.92 and March corn closed down 5 at 5.0725. November beans closed down 14 ¾ at 12.66 and January closed down 14 at 12.8450.
  • Harvest pressure is weighing on the market
  • We are seeing some profit taking going into the weekend after corn had a chart breakout, still struggling to push through $5
  • Good support in the bean market around $12.70 with the next resistance point being around $13
  • U.S. production is a wild card for next week's USDA report out Thursday
  • Demand is still behind with exports and the river isn't helping either, we are in peak export season 
  • Russian drones hit another Ukranian grain silo this morning in the Odessa region
  • The Dow and energy markets closed higher 
  • The U.S. Dollar softened
Have a great weekend!

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.