MarketEdge PM Comments

Oct 12, 2023

(Sam Bair)
Good evening, grains finish in the green after today’s session. December corn futures are up 8 pennies closing at 496^0, while March corn futures finish up 7 and a ¾ closing at 511^4.  November bean futures are up 37^4 closing at 1290^0, and January bean futures finish up 36^4, closing at 1308^6. Wheat also closed in the green.
USDA WASDE report today, although within estimates yield for corn and beans were lowered slightly from previous estimates.

Corn -   2.111 Bil. Bu(within expectations) V 2.221 in September
Beans-    .220 Bil Bu (within expectations) V   .220 in September
Corn -    173.0 Bu/acre (within expectations) V   173.8 Bu/acre in September
Beans-     49.6 Bu/acre (within expectations) V     50.1 Bu/acre in September
  • Look for markets to continue to focus on yields and harvest pressure, as well as demand from exports.
  • Livestock finish mostly higher with all cattle contracts in the green, and Oct hog contracts finishing slightly lower.
  • Dow Jones, Nasdaq, and the S&P 500 finish lower, while the US dollar finishes in the green.
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.