One year ago today, December 2021 corn made its fall low at $4.97½; less than two months later, it was 85 cents higher. The December 2021 corn high was May 7th at $6.38.
Yesterday morning, the USDA announced a sale of 104,000 mts of old crop beans to Taiwan.
USDA announced yesterday it will release four weeks of export data on September 15th. That pile of information could rattle markets a bit.
Putin and Turkish leader Erdogan will meet next week to discuss the Ukraine export corridor. Turkey has received about 40% of the grain and charges $4 a mt on the rest of it to pass through the Dardanelle Strait. Russia’s wheat exports are down 25% from a year ago with a 15% larger wheat crop.
Interior Corn Belt processors' base bids were generally weaker yesterday corn and beans.