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!

 

Read More News

Feb 26, 2024
Corn and soybean futures finished the overnight session mixed.
Feb 23, 2024
March corn closed down 6 ¼ at 3.9975 and May corn closed down 5 at 4.1350.
Feb 23, 2024
Corn futures were slightly higher and soybean futures were lower overnight.