Grain > Commentary > 12-29-2023

12/29/2023

Dec 29, 2023

Extremely light trade throughout the day. With nothing to really move the market, today's price action was about month-end/quarter-end/year-end positioning. Most market spaces were lower today, including stocks and most other commodities. Soybeans were buoyed in lower trade, finishing 11-14 cents lower, while corn bounced around on either side of unchanged for most of the day and remained within a 5 cent total range. Corn Weekly export sales were on the high end of expectations for corn with 1.242 mln tonnes sold last week. Soybean sales were on the low side at 984k tonnes. The markets will now be closed until Tuesday. Glacial Plains will also be closed on Monday, January 1, 2024. We would like to take a moment to thank you all for a wonderful year in 2023 and we look forward to working with you again in 2024.

2023 corn futures trade

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11/14/2025
Nov 14, 2025
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9/12/2025
Sep 12, 2025
USDA report day.  Corn and beans were trading higher pre-report on thoughts of a reduction to yields.  Well....we got what we were thinking but the USDA decided to throw a twist into the mix.  The 25/26 corn yield decreased slightly less than expected by 2.1 bu to 186.7 bpa, but they gave us the largest planted acreage shift on this report in at least the last 20 years (+1.4 mil acres) spurred an increase in production to 16,814 mbu.  25/26 ending stocks were slightly lowered by 7 mbu to 2,110 mbu. 
8/21/2025
Aug 21, 2025
Today the market ran higher on rumors for positive SRE announcements coming soon.  Bean oil was up over $2.  Beans finished the day up 20 cents at 10.56 Nov futures.  There is a chance we could make a run at the 10.74 Nov highs from back in June.  If we get there, I am a seller.  Bean basis remains in the garbage, so a run higher in futures doesn't help that either.  We still don't have a trade deal, so I think any rally is short lived at this time.