MarketEdge PM Comments

Jan 10, 2024

(Sam Bair)
Good evening, grains finished mostly lower after today’s session. March Corn futures are up 0^2 closing at 459^4, and Dec 24 corn futures are lower 0^2 closing at 492^0. March Bean futures are down 12^0 closing at 1236^4, and Nov 24 bean futures are down 3’0 closing at 1205^4. Wheat finishes higher after the day session.
  • Argentine crops are expected to benefit from moderate temps, and rains in the month of January.
  • CONAB lowers estimated Brazilian soybean production to 155.3mmt, and corn production to 117.6mmt
  • We are starting to see some basis pushes for nearby corn, contact your originator to see if it fits your operation.
  • Livestock prices were higher with cattle and hogs closing in the green.  
  • The Funds are an estimated 201,000 contracts of corn, and over 26,000 contracts of beans.
  • Dow Jones Index, The Nasdaq, and the S&P 500 all finish higher, while the US dollar is lower.
  • Reminder that Friday the WASDE report will be released at 11AM CST.
Have a great night.

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