BASIC & RECENT MARKET INFO

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

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

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

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, August 29 , 2023: September corn settled on Tuesday at $4.69½, +3¢ from last Tuesday. December corn settled on Tuesday at $4.86¾, +7¼¢ since last Tuesday. The past 7 days’ high was $4.99½, the low was $4.78½. Contract high is $6.79¼ made Apr 27, 2022

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, August 22 , 2023: September corn settled on Tuesday at $4.66½, +2½¢ from last Tuesday. December corn settled on Tuesday at $4.79½, +4¢ since last Tuesday. The past 7 days’ high was $5.06¼, the low was $4.73½. Contract high is $6.79¼ made Apr 27, 2022

Highlights Last half of August is going to be hot and dry for most of the Corn Belt. Suddenly, soybeans and soybean oil are leading CBOT higher. Finally, big specs are buying bean oil and selling meal. Yesterday, November beans were up 18¼¢, September oil up 87¢ per cwt, September meal up 70¢ per ton with a settlement at $404.50. The meal puts summary: Wednesday saw another batch of better-than-expected US economic data showing that interest rates increases are most likely to

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, August 15 , 2023: September corn settled on Tuesday at $4.64, -23½¢ from last Tuesday. December corn settled on Tuesday at $4.75½, -23¼¢ since last Tuesday. The past 7 days’ high was $5.07, the low was $4.73¾. Contract high is $6.79¼ made Apr 27, 202

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, August 8 , 2023: September corn settled on Tuesday at $4.87½, -9½¢ from last Tuesday. December corn settled on Tuesday at $4.98¾, -8½¢ since last Tuesday. The past 7 days’ high was $5.23¼, the low was $4.89¼. Contract high is $6.79¼ made Apr 27, 2022

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, August 1 , 2023: September corn settled on Tuesday at $4.97, -60½¢ from last Tuesday. December corn settled on Tuesday at $5.07¼, -58¢ since last Tuesday. The past 7 days’ high was $5.65, the low was $5.05½. Contract high is $6.79¼ made Apr 27, 2022;

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, July 25 , 2023: September corn settled on Tuesday at $5.57½, +28¾¢ from last Tuesday. December corn settled on Tuesday at $5.65¼, +30¾¢ since last Tuesday. The past 7 days’ high was $5.72¼, the low was $5.31¼. Contract high is $6.79¼ made Apr 27, 202

Highlights This week’s expected extreme heat and what it will do to the corn and bean production will be the market driver for this week. Last evening’s GFS weather model run has very little rain for Iowa over the next 16 days. NOAA says Iowa will get above normal rainfall July 29th to August 2. The Russian Ministry of Defense reported yesterday: "Tonight, the Armed Forces of the Russian Federation launched a group strike with sea and air-based long-range precision weapons at

Pricing Soybeans Sell all remaining 2022 (old crop) soybeans. This is generic market information. If you are a full service client, talk...

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, July 18 , 2023: September corn settled on Tuesday at $5.28¾, +34¼¢ from last Tuesday. December corn settled on Tuesday at $5.34½, +33¢ since last Tuesday. The past 7 days’ high was $5.40¾, the low was $4.81. Contract high is $6.79¼ made Apr 27, 2022;

Highlights Russia announced yesterday morning US time that they would not renew the Grain Corridor Deal. The reaction in the corn and wheat was the typical “Buy the rumor and sell the fact.” The rumor was Russia would not renew the deal. Traders bought wheat and corn based on the rumor of less corn and wheat available to the world marketplace. When the non-renewal was confirmed, it was already priced into the market. Again, another example of "the expectation of an event wil

Grain market summary of price outlook, seasonal situation, fundamental & technical analysis with our pricing recommendations for corn , soybeans and wheat for past week Wednesday to Tuesday. Corn Corn situation after the close Tuesday, July 11 , 2023: September corn settled on Tuesday at $4.94½, +11¼¢ from last Tuesday. December corn settled on Tuesday at $5.01½, +8¢ since last Tuesday. The past 7 days’ high was $5.09½, the low was $4.85½. Contract high is $6.79¼ made Apr 2

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 Monday, July 4 , 2023: September corn settled on Monday at $4.83¼, -73¢ from last Tuesday. December corn settled on Monday at $4.93½, -67½¢ since last Tuesday. The past 7 days’ high was $5.62½, the low was $4.88. Contract high is $6.79¼ made Apr 27, 2022; Con

Soybean Seasonal Price Up Trend Ends July 15 How to Decide When to Price Grain and Oilseeds The age-old problem is to decide when to price your grain. That task should be a two-stage process; basis and futures determine the cash price. The easy stage is the basis, which is very predictable and the annual range is relatively small compared to the futures price. The difficult stage is pricing (locking-in) the future price, which is very volatile and some years, very unpredict

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, June 27 , 2023: September corn settled on Tuesday at $5.56¼, -36¾¢ from last Tuesday. December corn settled on Tuesday at $5.61, -36½¢ since last Tuesday. The past 7 days’ high was $6.29¾, the low was $5.55. Contract high is $6.79¼ made Apr 27, 2022;

All of us at Wright on the Market know you want to know why CBOT prices are so weak today. We have searched the corners of the earth for news to explain the weakness. We cannot even blame it on China because corn and beans were higher there today. The consensus reason for today’s weakness is the entire Midwest will receive between a half inch and one inch rain next week. The fear of Friday’s USDA reports may be a part of it. If the rain comes next week, that rainfall is al

Highlights July CBOT options expire today. The day before and the day options expire are usually down days for CBOT futures. President Biden at a west coast fundraiser called China’s President Xi a "dictator" Wednesday evening. Xi was not pleased one bit and he let the US Ambassador know that Biden’s comment was "political provocation." In hindsight, that added pressure to the soybeans yesterday on top of the biodiesel blending disappointment. Secretary of Treasury Janet Yel