MarketEdge PM Comments

Jan 13, 2024


(Taylor Bensenberg)

Good afternoon, 
 
Markets finished the week in the red after the WASDE report. March corn closed down 10 ¾ at 4.47 and May corn closed down 10 ¾ as well at 4.59. March beans closed down 12 ¼ at 12.2425 and May corn down 12 ¼ as well at 12.3575. 
 
WASDE Highlights: 
 
  • Corn yield was raised 2.4 bushels an acre to 177.3
  • Bean yield was raised .7 bushels an acre to 50.6
  • Corn carryout increased 30 million bushels 
  • Bean carryout increased 35 million bushels 
  • Brazilian corn and bean production decreased but is still expected to set records  
Other News:
  • Tensions are on the rise in the Red Sea making it hard to pass through safely 
  • South America is receiving timely rains 
  • Markets will be closed on Monday in observance of Martin Luther King Day 
Stay safe!

 

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