MarketEdge PM Comments
Dec 05, 2023
(Sam Bair)
Good evening, grains are mixed after today's session. March corn futures are up 5 pennies closing at 490^4, May futures are also up 5 closing at 502^0. January bean futures were 0^6 lower closing at 1305^4, and March bean futures close at 1326^4 remaining unchanged. Wheat finished higher.
- Brazil hit a monthly record of exports, in November they exported 5.196 MMT of beans and 7.406 MMT of Corn.
- Reminder of the December WASDE report will be this Friday the 8th.
- Trade estimates have carryout at 2.176 Bil. Bu of corn and 246 mil. Bu of soybeans.
- There was a flash sale of 198k tons of SRW wheat helping drive price higher today and helped carry corn as well.
- We have released this years Target Average Program, be sure to reach out to your originator to get signed up!
- Livestock finish mixed as hogs trade lower and cattle finish in the green.
- The US Dollar and the Nasdaq finish higher, while the Dow Jones and the S&P 500 finish in the red.
Have a great evening.