MarketEdge PM Comments

Oct 10, 2023

(Sam Bair)
Good Evening, markets are split after today’s session. December corn futures are down 2 and ¾  pennies closing at 485^4, while March corn futures finish down 2 and a ¼ closing at 501^2.  November bean futures are up 7^2 closing at 1271^4, and January bean futures fish up 6^6, closing at 1289^2. Wheat closed in the red.
  • Harvest Progress-
Corn- In Iowa corn harvest is 30% harvested vs an average of 20%. In Illinois 42% of corn is harvested vs 39% average.
Beans- In Iowa bean harvest is at 52% complete, compared to an average of 39%. In Illinois bean harvest is 44% complete, versus an average of 36% complete.
  • Don’t forget that Thursday the 12th is the USDA Oct. S/D WASDE Report, released at 11am!
  • If you still have not rolled or set basis on Nov. HTA be sure to be reaching out to your originator to help you get those set before delivery date, there is currently an 17 3/4c carry to January.
  • Livestock finish split, with hogs finishing in the red, and cattle finish on both sides of the trade.
  • Dow Jones, Nasdaq, and the S&P 500 finish higher, while the US dollar finishes lower.
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.