MarketEdge PM Comments

Sep 26, 2023

(Cody Forde)

Good afternoon, corn and soybean had a mixed day with a macro market sell off. December corn last trade 476^4 down 1^6 on the session. November soybeans last trade was 1304^0 up 6^2. The market is in a holding pattern waiting for more yield data and the quarterly stocks report. We need to see December corn close about $4.87 and move towards the five-dollar mark. If we can’t, we are at risk of sliding lower.  Seasonally, we should be making a low in the coming weeks. Soybeans are trading at the lower end of the range and are at risk of breaking lower if we settle below $12.80.  
  • E-Mini S&P 500 dropped 67.50 points to settle the index at 4311.25.
  • Crude oil rallied 85 cents to settle at 90.53.
  • December live cattle dropped 2.700 cwt to settle at 188.525
  • Gold sold off losing 17.6 per OZ to put the contract at 1918.9

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.