MarketEdge PM Comments
Jan 13, 2024
(Taylor Bensenberg)
Good afternoon,
Markets finished the week in the red after the WASDE report. March corn closed down 10 ¾ at 4.47 and May corn closed down 10 ¾ as well at 4.59. March beans closed down 12 ¼ at 12.2425 and May corn down 12 ¼ as well at 12.3575.
WASDE Highlights:
Good afternoon,
Markets finished the week in the red after the WASDE report. March corn closed down 10 ¾ at 4.47 and May corn closed down 10 ¾ as well at 4.59. March beans closed down 12 ¼ at 12.2425 and May corn down 12 ¼ as well at 12.3575.
WASDE Highlights:
- Corn yield was raised 2.4 bushels an acre to 177.3
- Bean yield was raised .7 bushels an acre to 50.6
- Corn carryout increased 30 million bushels
- Bean carryout increased 35 million bushels
- Brazilian corn and bean production decreased but is still expected to set records
- Tensions are on the rise in the Red Sea making it hard to pass through safely
- South America is receiving timely rains
- Markets will be closed on Monday in observance of Martin Luther King Day