MarketEdge PM Comments

Sep 06, 2023

(Allison Ryan)

Beans and corn started the day higher, but corn couldn’t maintain staying positive. December corn was down ¼ cent, while November beans were up 11¼.
  • Yesterday’s crop condition ratings carried through to today, with beans down 5% on good to excellent, and corn down 3% on good to excellent.
  • Wheat was also higher due to concerns about the wheat crop in Australian with El Nino conditions.
  • Rumor has it that Russia is also struggling to finish harvest and plant wheat due to lack of fuel.
  • Keep an eye on old crop basis if you have any bin bushels left to move; as new crop hits the market, basis will continue to dwindle.
  • Brazil is expected to substantially increase both corn and bean exports compared to last year’s September shipments.
  • The Dow was lower, crude was higher, and the Dollar was firmer.

Read More News

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.
Sep 26, 2023
Good afternoon, corn and soybean had a mixed day with a macro market sell off.