MarketEdge PM Comments

(Taylor Bensenberg)

Good afternoon, 
 
March corn closed down 6 ¼ at 3.9975 and May corn closed down 5 at 4.1350. March beans closed down 14 ¾ at 11.33 and May beans closed down 10 ¾ at 11.4175.
 

• Grain markets saw another round of technical selling today
• US government approved E15 sales expansion in 2025
• Look for the US to put more sanctions on Russia and companies that are aiding them
• Exports were released today, corn sales were decent while beans were a different story (we saw enough cancelations to almost cancel out the sales)
  • 820,400 MT of corn was booked last week for the current marketing year
  • 55,900 MT of beans was booked last week for the current marketing year
• The Dow closed higher, energy closed lower, and the US Dollar softened

 
 
Have a great weekend!