MarketEdge PM Comments
Sep 22, 2023
(Sam Bair)
Good Evening, grains are lower after todays session. December corn futures are down 7 pennies closing at 475^2. November bean futures are down 26^2 closing at 1293^6. Wheat also closed 13 cents lower on the day.
- Risk off selling puts pressure on all markets across the board, and is the main reason for the fall off today.
- Soybean sales exports last week were at 16 billion bu. and only to a handful of buyers- including China.
- As harvest gets going, be sure to have a plan with unpriced bushels that will not be in, on farm storage. Talk to your originator about possible plans.
- Lower Mississippi River levels are not expected to change much if at all, which will continue to pressure the cash bean market.
- Livestock finish in the red, as hogs and and cattle close lower.
- Dow Jones, Nasdaq, the S&P, and gold all finish lower.
Have a good evening,