BASIC & RECENT MARKET INFO

Dec Wheat - 1 to 2 Lower Dec Corn - Steady Nov Beans - Steady to 1 Lower From yesterday's November Soybean comments: "Soybeans...

Grain market summary of price outlook, seasonal situation, fundamental & technical analysis with our recommendations for corn , soybeans and wheat for past week Wednesday to Tuesday. Corn Corn situation after the close Tuesday, September 12 , 2023: December corn settled on Tuesday at $4.76½, -9½¢ since last Tuesday. The past 7 days’ high was $4.90¼, the low was $4.73½. Contract high is $6.79¼ made Apr 27, 2022; Contract low is $3.97½ made Dec 15, 2020; Range is $2.81¾. Yest

Highlights The USDA numbers did not justify a 25 to 30¢ lower close on soybeans. The 50.1 bu yield was in line with expectations. The 220-million-bushel 2023 crop carryover is tight enough to justify $17+ beans. The USDA actually increased 2022 crop corn and soybean exports! The 800,000 acreage increase of corn acres to 94.9 million and increased harvested corn acres for grain to 87.1 million acres was about 150,000 acres more than expected. Soybean acres were raised by 100,

Dec Wheat - 1 to 2 Lower Dec Corn - Steady Nov Beans - 1 to 2 Lower The USDA wins for a day. From my analysis, the numbers today do not...

Negative corn and beans, Friendly Wheat 18 Minutes After Report was released: December corn -10 November beans -16.75 December CBOT wheat...

Market Comment The USDA will issue its September S&D today at 11:00 AM Central. This report will either make the low for the year on corn or will confirm the low has already been made (August 16th at $4.73½). Given the December to March spread has declined from 16 to 14¼¢ and the December to July spread has moved from 28½ to 26¼¢ the past two weeks indicates the low has already been made. The return to storage will always be at its greatest when the market is at the low. I

Dec Wheat - Steady Dec Corn - Steady to 1 Higher Nov Beans - Steady to plus/minus 1 December Wheat washed out the inverted head &...

Market Comment Brian near Alta in Buena Vista County, Northwest Iowa has chopped silage for six different farmers. Yields corrected to grain yield were all in the 150 to 185 range. All these farms yielded 210 to 240 bushels per acre the past two years. Brian has heard some silage appraisal yields southwest of him in the 35 to 100 bushel range. For those of you considering “re-owning on paper” cash grain previously sold (meaning buying futures or call options or writing puts)

Dec Wheat - 2 to 3 Higher Dec Corn - Steady Nov Beans - Steady to 1 Lower S&P trading at 4514 up +2.75 Crude trading at 78.00 down -0.51

As was mentioned last week, open interest has been increasing in corn and beans for the last 5-8 trading days. Open interest is the...

It's our weekly grain market prices and US grain basis analysis and outlook on September 10, 2023 for corn, soybeans and wheat. The Dow Jones Industrial Average (DJIA) settled at 34,576.59, -261.12 points for the week. Crude oil settled at $87.23, +1.18. The Dollar Index settled at 105.09, +0.83. The Baltic Dry Index (a shipping freight-cost index) settled at 1,186, +121 points for the week. Corn December futures at $4.83¾, +2¼¢ for the week. Basis (Z = December; e.g.

Comment on Marketing and Hedging The Pro Farmer market friendly numbers were released Friday, August 25 after the CBOT closed. The next day, we stated the following: Soybeans and especially corn are expected to open higher Sunday given Pro Farmer yields and the weather. This will most likely be the most bullish news the corn market will get until the September 12th USDA Crop Production and S&D, which might be bullish, but might be bearish. That report is a Tuesday, so we wil

Tidbits USDA announced yesterday morning China bought 121,000 mts of soybeans. Corn crushed in July for ethanol was 454 million bushels, up 3% from a year ago. August corn ethanol crush needs to be 491.9 million bushels to meet USDA’s projection for the marketing year which ended August 31st. That is not likely to happen. The US Census Bureau is the final authority on US food and fiber consumption and exports. Through the first 11 months of the old crop marketing year, Ce

Jon Scheve with weekly market commentary made on September 8, 2023 Dry weather is contributing to declining water levels on the...

Highlights Dayton Cargill’s corn syrup plant is grinding 145,000 bushels per day, the largest daily grind in about three years. Wednesday evening, Cargill had 50,000 bushels inventory after receiving their first load of new crop corn earlier in the day. They are paying $6.50 for corn through Saturday. Patrick was at Dayton Cargill a little after 8 AM yesterday morning and there was no line of trucks. It certainly would be logical to expect a line of trucks after Cargill jump

Dec Wheat - 1 to 2 Higher Dec Corn - Steady Nov Beans - 2 to 4 Lower Open Interest has increased about 49,000 contracts, in all months of...

Highlights Informa’s updated US yield numbers have corn at 177.5 vs. 175.1 in August with production at 15.395 billion vs. 15.111 in August. Soybean yields at 51.0 vs. 50.9 in August and production at 4.214 billion vs. 4.205 in August. Cash export traders in Brazil received some questions from the Chinese about soybean export capacity for the November-January window. China is concerned the low water in the US river system and the Panama Canal will restrict US exports of corn

Dec Wheat - Steady to Mixed Dec Corn - Steady to 1 Lower Nov Beans - Steady to 1 Higher December Wheat was in high demand today as the...

Grain market summary of price outlook, seasonal situation, fundamental & technical analysis with our recommendations for corn , soybeans and wheat for past week Wednesday to Tuesday. Corn Corn situation after the close Tuesday, September 5 , 2023: December corn settled on Tuesday at $4.86, -¾¢ since last Tuesday. The past 7 days’ high was $4.91¾, the low was $4.76¾. Contract high is $6.79¼ made Apr 27, 2022; Contract low is $3.97½ made Dec 15, 2020; Range is $2.81¾. Yesterd

Highlights Initial harvest reports are pointing toward smaller crops than USDA projected for soybeans and corn. Consensus is that soybeans are suffering here in September more yield loss than corn and we would agree. The nation’s corn conditions lost 3% out of the top two categories to 53%; the market expected a 2% decline. Corn in the dough stage 93% vs. 92% average. Corn dented 67% vs. 65% average. Corn maturity is 18% versus 16% average. Soybeans lost 5% to 53% good or exc