Soybean prices test new highs before falling

Soybean futures prices rallied last week and tested new highs, with values Thursday reaching $14.43 per bushel. However, prices could not hold and subsequently ended the day below the previous high of $14.36 per bushel on Jan. 14. Soybean harvest delays in South America [...]

Soy complex shows resilience

Mar-21 soybeans ended at $13.70 per bushel last week after recovering from the previous week’s speculative selloff. News of additional soybean purchases trumped reports of favorable weather in South America as demand is moving to the forefront of market-driving factors. Soybean harvest should be [...]

Corn market corrects on better weather in SA, speculative selling

Last week brought a market correction to corn futures, culminating with Friday’s significant sell down. Mar-21 corn futures closed the week just above the psychological level of $5 per bushel. Fundamentally, arguably the only bearish news last week was better weather in South America, [...]

Corn rises to new highs

Corn futures closed higher each day last week off support from soybeans, the weakening dollar, and extended weather forecasts showing drier conditions in South America. The soybean rally picked up last week, and the market is trading above $12 per bushel for the first [...]

Pre-WASDE estimates: Corn stocks slightly lower

On average, the industry expects USDA to lower its 2020/21 domestic corn ending stocks forecast from 1.702 billion bushels to 1.691 billion bushels in Thursday’s WASDE. This estimate may reflect an anticipated increase to exports. Globally, 2020/21 ending stocks are expected to drop by [...]

Corn market positions itself ahead of WASDE

Last week brought relaxation in corn futures after the previous week’s volatility as the funds appear to have broken a bit. Mar-21 corn futures closed the week lower by about $0.06 per bushel at $4.205. Trade activity may also be positioning ahead of Thursday’s [...]