Uncategorized

USDA Report 5/12/21

Old crop selling pressure. Heavy selling hit old crop corn tonight tied to the closing of the Herando Desota Bridge. The bridge carries traffic between Memphis Tennessee and West Memphis Arkansas on what is known on I-40. A structural crack was found that has closed the bridge to traffic above and below this afternoon. No…

Uncategorized

Overnight mixed grain trade extremely low volume.

Overnight mixed grain trade extremely low volume. Mixed session overnight, with corn and wheat on the retreat, with soybean finding support from the recovering soybean meal market that continues to stabilize just under $400 a ton. With only 5 1/2 trading sessions till the March 31 Stocks/Seeding’s report, concerning is that the volume in the…

Uncategorized

Bean oil rallies to the highest prices in 9 years overnight

Bean oil rallies to the highest prices in 9 years overnight. May soyoil pushed to a new contract high of $58.25 overnight, following yesterday’s rare limit up close. Midwest cash soyoil basis rose to a new rally high on strong demand from food and ethanol sectors. The overnight high was very near record high prices…