Corn Finds Consistent Strength, Bean Complex Test Limits June 21, 2023
Soybean oil, limit down 400 points, was hit by the EPA decision. As you know, many in the trade had quietly hoped the EPA's one-week delay in the biofuel mandate release would be due to perhaps some White House influence. The official finalized EPA numbers this morning still showed a theme of disappointment to oilseeds. There is a general grouping of biofuels called “advanced biofuels”. The December proposal showed 5.63 billion gallons in 2022 to 5.82 in 2023, 6.62 in 2024 and 7.43 in 2025. Though the 2023 finalized number was upped to 5.94 they lowered 2024 to 6.54 and lowered 2025 to 7.43.
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Allendale Insider
Allendale Insider
On The Go
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Soybeans and wheat see pressure this week. Corn holds.
September 22, 2023
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Cattle on Feed confirms a return to lower placements. Q2 supplies will be tight.
September 22, 2023
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Pork questions remaining procurement. Cattle hit by weights, beef and the stock market.
September 21, 2023
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Grains show export sales disappointment.
September 21, 2023
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Hogs surpass last week’s high.
September 20, 2023
On The Go
September 22, 2023
September 22, 2023
September 21, 2023
September 21, 2023
September 20, 2023
Market Movers
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December found light support at 474 yesterday/last night, chart open to 467 ¾, rains added again.
September 22, 2023
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Rains dramatically reduced in the 6 – 10 day forecast, exports may be expected disappointing.
September 21, 2023
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Rains in the 10-day outlook may slow harvest and offer mild support, exports are needed.
September 20, 2023
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Harvest at 9%, analysts expected 10%, the forecast may slow harvest days 1 – 5
September 19, 2023
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Funds were aggressive sellers of 41K, now short 135K or 42% of record, solid harvest forecast.
September 18, 2023
Market Movers
September 22, 2023
September 21, 2023
September 20, 2023
September 19, 2023
September 18, 2023
Snapshots
Snapshots