11/14/2022

Corn and soybeans close lower to start the week.  We saw some brief trade higher mid-morning before getting stuck in the red on the day.  The weekly export inspections did little to help the market out with soybeans under-performing at 1.858 mln tonnes shipped.  Corn impressed the most at 484k tonnes but was still only average for the week.  December corn traded 5 cents either direction before finishing unchanged on the day.  January soybeans ran into overhead trendline resistance for the 6th time in the past 7 sessions.  Corn spreads tightened by a good amount today.  If you have basis fixed deliveries or contracts in place, it's a good time to pay close attention as we could have potential opportunities to roll these contracts ahead close to even money in the near future.  With harvest pretty well wrapped up around the country, end user cash bids have strengthened significantly in an effort to keep grain moving.