MarketEdge PM Comments
Sep 22, 2023
Finally seeing some green on the board. December corn closed up 2 at 4.7725 and March corn up 2 ¼ at 4.9225. November beans closed up 2 ½ at 12.9625 and January beans closed up 2 ¾ at 13.1350.
- The Mississippi River remains low making it challenging for U.S. Exporters to sell in the FOB market
- The dollar continues to rally, putting pressure on commodities and exports
- The market has been focusing on lost export demand rather than lost production as we shift out of the supply time of year
- Beans are down $1 from August and corn cash prices are down nearly $2 from a year ago
- Drought worries are back in South America aiding in soybean support
- The Fed is saying they are planning on keeping rates "restrictive" for the foreseeable future.
Have a great weekend!
Read More News
Sep 30, 2023
Grains ended up in the red headed into the weekend.
Sep 29, 2023
Good Morning. It is Report Day. At 11am, USDA will release the highly anticipated Quarterly Stocks Report.
Sep 28, 2023
Corn and soybean futures were lower overnight.