MarketEdge PM Comments

Sep 08, 2023

(Taylor Bensenberg)
Good afternoon, 
Grains were mixed to end the week. December corn closed down 2 ½ at 4.8375 and March corn closed down 2 at 4.98. November soybeans closed up 3 ½ at 13.63 and January beans closed up 4 ¼ at 13.78. 
  • Weekly export numbers were released earlier today. 
    • New crop corn: 949,700 MT
    • New crop bans: 1,783,100 MT
  • Exporters announced the sale of 4.4 million bushels of beans for delivery to China. 
  • Argentina's 2023/2024 crop production is expected to increase significantly as El Nino should bring rain to key growing areas.
  • The September WASDE Report will be released next Tuesday. 
    • Traders are expecting lower yield estimates and higher harvested acreage. 
    • The corn carryout projection is 2.14 billion bushels. 
    • The bean carryout projection is 207 million bushels. 
Have a great weekend! 


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.