MarketEdge PM Comments

Sep 30, 2023

(Taylor Bensenberg)

Good afternoon, 
Grains ended up in the red headed into the weekend. December corn closed down 11 ¾ at 4.7675 and March closed down 11 ½ at 4.9175. November beans closed down 25 ½ at 12.75 and January closed down 24 ¾ at 12.9450. 
  • The USDA released stocks today
    • Corn - 1.361 billion
    • Beans - .268 million 
    • Wheat - 1.780 billion
    • This was bearish on the market
  • Exporters announced the sale of 8.8 million bushels of corn for delivery to Mexico
  • China has been the largest buyer of Ukrainian corn in the recent weeks
  • Yesterday the Mississippi River levels dropped to -10.62 in Memphis which is just above the all-time low of -10.81. It is expected to stay below the -10 feet until the middle of October
  • If the government goes on shutdown, it could hinder international trade efforts and delay future ag reports
Have a great weekend!

Read More News

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.
Sep 27, 2023
Corn and beans closed up, although off their highs of the day.