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Market Moment

Grains results for All Months from All Years

Balance Sheets Revisited

Published on Monday, July 29, 2019

Grain markets have become subdued in the last couple of weeks giving very little attention to most any fundamental discussions (trade, weather, etc.).  See Charts. Prices have adhered well to recent technical support which can largely be generalized by $4.25 December Corn and $9.00 November Soybeans.  As prices test support, fund managers have continued to be small but willing buyers of...

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Variable Storage Rates for Corn and Soybeans

Published on Monday, July 22, 2019

To even the casual onlooker, recent corn price movement would be confusing and seemingly lacking any real direction.  That direction will hopefully become more settled as we learn more about the crop, its size, and quality.  However, much of this may not be figured out at harvest.  To add to the complexity of this fall's storage decision, we have one more thing to understand as it r...

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Weather We Will or Not

Published on Monday, July 15, 2019

As mentioned in last week's post WASDE update, the USDA made no material changes to the balance sheet for corn.  It will be another month until the much anticipated August WASDE will be released with the revision to the June Acreage report.  Until then, no formal changes will be made to acreage or yield numbers.  However, as mentioned last week, there is one thing that can still alt...

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USDA Kicks the Can

Published on Thursday, July 11, 2019

After the overwhelming criticism that followed the Acreage Report on June 28th, the USDA held silent on much of today's Supply and Demand Report.  The changes of note came in beginning corn stocks where 145 million bushels were subtracted from demand (largely exports - 100k) in the 2018/19 marketing year.  The growth in yield is purely a function of the acreage report which remains in qu...

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A Basis Discussion

Published on Monday, July 8, 2019

Basis by definition is the difference between the price of a commodity in the local market and that of the Chicago Board of Trade. Basis is established by each elevator and can change often, sometimes within the day.  It is often called "the voice of the market" because it's an indication of whether or not the market wants your grain.  The four key factors that effect corn and ...

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