MarketEdge PM Comments

Sep 25, 2023

(Brayden Frazier)

Good afternoon,
Second day in a row where the market has closed in the green with December corn closing up 4 cents at 4.8125 and March ‘24 corn closing up 3.5 cents at 4.9575. November beans closed up 1.5 cents 12.9775 and January ’24 beans closed up 2 cents at 13.1550.
  • Finally, a positive export sale of 1.66 mil tonnes of corn to Mexico
    • 1.05 mil tonnes for 23/24 delivery
    • 0.66 mil tonnes for 24/25 delivery
  • US farmer selling has been quiet with unfavorable markets and low Mississippi river levels causing weak basis’s
  • Look for harvest numbers to increase this week as rain has kept most people out of the fields recently
    • Little to no rain in the forecast with above average temperatures in the 6-10 day outlook
  • US corn crop conditions surprisingly increased
    • 53% G/E versus 51% G/E last week
  • US bean crop conditions decrease to 50%, down from 52% from last week
Have a great evening!

Read More News

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