Closing Comments: Tuesday, January 15, 2019
MaxYield Cooperative - SETZ - Tue Jan 15, 1:55PM CST

Soybean futures were on the downward slide again today and pulled corn with it. Weak ethanol prices and lack of export sales news is weighing on the market along with forecasts for South America that are looking more and more mild with much needed rains expected in most parts of Brazil and drier weather expected for Argentina. Even the friendly NOPA crush report didn’t help to pull bean prices higher.

The National Oilseed Processors Association (NOPA) released their monthly crush number for December of 171.759 million bushels. This is the third highest level on record and the most ever for the final month of the year. This is well ahead of the 166.959 MB processed in November. Soy oil stocks were 1.498 billion pounds and Soymeal exports were 826,404 tons for the month.

March corn closed 7 cents lower at $3.71 , March soybeans closed 10 cents lower at $8.93 , and March wheat closed 3 cents lower at $5.11.




 

Market Commentary provided by:

Karl Setzer Grain Commentary