MarketEdge PM Comments
Sep 30, 2023
(Taylor Bensenberg)
Good afternoon,
Grains ended up in the red headed into the weekend. December corn closed down 11 ¾ at 4.7675 and March closed down 11 ½ at 4.9175. November beans closed down 25 ½ at 12.75 and January closed down 24 ¾ at 12.9450.
Good afternoon,
Grains ended up in the red headed into the weekend. December corn closed down 11 ¾ at 4.7675 and March closed down 11 ½ at 4.9175. November beans closed down 25 ½ at 12.75 and January closed down 24 ¾ at 12.9450.
- The USDA released stocks today
- Corn - 1.361 billion
- Beans - .268 million
- Wheat - 1.780 billion
- This was bearish on the market
- Exporters announced the sale of 8.8 million bushels of corn for delivery to Mexico
- China has been the largest buyer of Ukrainian corn in the recent weeks
- Yesterday the Mississippi River levels dropped to -10.62 in Memphis which is just above the all-time low of -10.81. It is expected to stay below the -10 feet until the middle of October
- If the government goes on shutdown, it could hinder international trade efforts and delay future ag reports