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.
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.