South American weather keeps corn, soybean markets on edge

While most folks enjoyed the holidays, the grain markets, specifically corn and soybeans, experienced a notable late-year rally. Corn futures rose back above $6 per bushel and soybeans back above $13.50 per bushel. Most of the rally has been driven by a South American [...]

Soy complex futures rise despite higher stocks

Futures activity Despite what most would consider a bearish WASDE report (at least for domestic soybeans and soybean oil), soy complex futures ended last week considerably higher than they began. Jan-22 soybean futures closed at $12.445 per bushel, up nearly 5 percent from last [...]

A wet start to South American soybean harvest

As of last week, soybean harvest in Brazil’s Mato Grosso was just over 2 percent complete, down about 12 points YOY and almost 10 points below the five-year average. Rain is expected in Mato Grosso in the near term but should not hinder decent [...]

Soybeans correct after soaring higher on bullish WASDE

Last week was interesting for the soy complex as prices rallied before correcting a bit on Friday. A bullish WASDE report sent soy complex futures to new highs with the Mar-21 contract surpassing $14 per bushel for the first time since 2014. Likewise, soybean [...]

Will funds continue to liquidate soybean commitments?

Holiday weeks and the end of the year in general are notorious for volatility and fewer market participants. Those factors are likely behind the price swings we’ve seen just this past week. Focusing on the longer term, the question is whether funds are done [...]

Corn rises again

Nothing seems to be stopping speculative interest in corn (and other ag commodities). Dec-21 corn futures continued to climb higher last week, testing contract highs near $4.20 per bushel, a value last reached in July 2019. The current net long position in ag commodities [...]

Weather may limit South American corn production

As of Jan. 23, the Argentine corn crop was 94.7 percent planted, up 3.8 points from the prior week and up 2 points YOY. Yield expectations for the current crop are about the same as last year’s, per Bolas de Cereales. For early corn, [...]

Corn market feels pressure from uncertain demand

Harvest of the U.S. corn crop has begun. Production remains a little uncertain, with just 29 percent of this year’s crop at maturity as of Sep. 22, about two weeks behind the average pace of development. So far, it appears the weather will be [...]

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