MarketEdge PM Comments
Oct 19, 2023
(Sam Bair)
Good evening, markets finish in the green after trading on both sides. December corn futures are up 13^0 pennies closing at 505^0, while March corn futures finish up 10 and a ½ closing at 517^0. November bean futures are up 4^4 closing at 1315^4, and January bean futures are up 2^4, closing at 1331^6. Wheat finished strong, closing in the green.
- Last week’s sales exports-
- Corn- 881K tons within the expected range of 500k-1.1 MMT
- Beans- 1.372 MMT within the expected range of 950k- 1.625 MMT
- Today Dec 23 corn broke through the 500 resistance and finished above 5.00 for the first time since the beginning of August.
- Spreads in contracts are getting narrower, but there is still decent value if you have interest in rolling any HTAs, please contact your originator with any questions.
- Livestock finish split, with cattle finishing in the red and hogs trading on both sides.
- Dow Jones, Nasdaq, and the S&P 500, and the US dollar all finish lower.
Have a good evening,