The information and opinions expressed below are based on my analysis of price behavior and chart activity Wednesday, December 4, 2024 January Soybeans January Soybeans settled the day down 8 cents at 9.83 ¾. Uncertainty over “Trump Tariffs” and what they may, or may not, do to or for US Ag business has market participants on edge. The weather in …
Chart of the Day – March Corn
The information and opinions expressed below are based on my analysis of price behavior and chart activity Monday, December 2, 2024 March Corn As we start the last month of 2024, March Corn settled the day down ½ cent at 4.32 ½. November saw prices gain by 7 cents, compared to October, but 5 cents of that gain came on …
Harvest Pressure
Please join me for a free grain webinar every Thursday at 3pm Central. We discuss supply, demand, weather, and the charts. Sign Up Now Commentary Corn and soybean markets are lower again today as dry weather allows for harvest to rapidly move forward in the U.S. Favorable rains are finally falling on many dry areas in Brazil adding to the …
Soy and Corn Market Commentary
Commentary: SOY: The soy was quiet overall, the meal was weaker. The market is watching the weather this weekend. The Pro Farmer tour released their estimates and estimate the US soy yield 8/10ths lower than the last USDA number. This is not overly significant in my opinion. However, if the weather remains dry the last week of the month, and …
Soy and Corn Market Commentary
Commentary: SOY: The soy was under pressure. There are some considerations here. The weather is important this month especially for beans. There has been some dryness, however the bean yields are currently not reflecting this. The Pro Farmer tour is indicating very positive results thus far. It is possible to continue to add to the carry if the weather finishes …
Soy and Corn Market Commentary
Commentary: SOY: The soy was quiet today. The bulls have been in control for the past week based on some weather concerns. The Pro Farmer crop tour is running now. The current schedule in Indiana and parts of Nebraska have shown above average yield potential. This has the market stalled for a minute. There are areas coming up that may …
Soy and Corn Market Commentary
Commentary: SOY: The beans rallied again today. The weather apparently has some concerned that the crop size could decline. The ratings did decline today by 2 points. The Pro Farmer crop tour will begin to release estimates tonight apparently. This could be important as an indication of actually how large the crops are this year. Their doing actual field surveys …
Soy and Corn Market Commentary
Commentary: SOY: The soy complex had a fairly active day with reasonably large advances led by beans and meal. The market, as I mentioned yesterday, is pushed by recent Chinese purchases and the recent weather event. It is my belief that the recent weather while friendly corn, did not do much harm to the soy. The overall bean numbers in …
Soy and Corn Market Commentary
Commentary: SOY: The USDA released the WASDE report. The bean yield was raised which puts the carry at 610. My early thoughts were a 650 carry. This may still come to fruition. The global numbers are large at 95.36 mil mt. The futures shrugged this off today as the recent weather gives pause for concern. In addition the Chinese have …
Soy Market Commentary
Commentary: The soybeans ended a bit lower, along with the soy meal market. The weakness continues based on the higher ratings and concerns regarding the Chinese US relations. It is possible the beans and meal pause for a minute here before going lower. The beans are made in August as the saying goes and the market may wait to see a …