Web App Login Crossroads Daily Commentary Published on: Nov 30, 2021 At the break – Dec Corn @ 5.74 down .07 Mar Corn @ 5.7575 down .065 Dec 22 Corn @ 5.51 down .0525 Dec KC Wheat @ 8.4075 down .1325 July 22 KC Wheat @ 8.2125 down .1625 Jan Soybeans @ 12.28 down .135 Nov 22 Soybeans @ 12.19 down .10 Jan Crude Oil @ 67 down 2.95 Markets failed to hold Sunday’s overnight gains and generally closed significantly lower on Monday. Dec corn closed .0575 lower at 5.81 and Mar corn closed .095 lower at 5.8225. Dec KC wheat in a nearly .35 cent trading range closed .11 lower at 8.54. Jan soybeans closed .1125 lower at 12.415. Dec crude oil also lost its early gains and closed 1.80 higher at 69.95. Overnight another sharp selloff in grain futures as there are plenty of stories in the press about the Omicron variant and today looks to be “risk off” with Dow futures off nearly 400 points, the NASDAQ down about 80 points and the dollar off .618 points. Dec corn in a range of .01 higher at 5.82 to .10 lower at 5.71 and Mar corn from .01 higher at 5.8325 to .09 lower at 5.7225. Dec KC wheat from .015 lower at 8.54 to .19 lower at 8.35. Jan soybeans from .0325 higher at 12.4475 to .0155 lower at 12.27. The USDA announced a sale of 4.85 million bu. of soybeans to unknow this morning. Winter wheat conditions at 44% G/E. Regionally, NE up 1% in the G/E from 63% to 664%. CO down 3% in the G/E from 41% to 38% and KS up 1% in the G/E from 61% to 62%. Oklahoma down 7% in the G/E from 55% to 48%. The Dec/Mar corn spread traded into .01 cent yesterday as that spread collapsed as traders exited the Dec and rolled futures forward. Moving forward nearby bids and offers will be against Mar futures in corn and wheat. Interesting to note that there is .0375 cents carry in corn futures from the Mar to May and a half cent from May to July. Very similar situation to last year where carrying corn has a considerable amount of risk and that risk could be magnified this year with a significantly larger crop than last. Corn Export shipments last week at 30.2 million bu. with Mexico taking 12.89, Japan 4.66 and China 3.65 million bu. Soybean shipments at 78.7 million bu. with China shipping 50.89, Egypt 10.12 and Mexico 3.84 million bu. Wheat shipments 9.2 million bu. with The Philippines loading 7.35 and Mexico loading 2.13 million bu. Milo shipments at 7.51 million bu. with China loading 7.51 million bu. Anemic shipments in both corn and wheat with soybeans shipments above expectations. Funds increased their length in corn last week by 130 million bushels to 1.835 billion bu. Soybean length increased by 100 million bu. to 245 million bu. Contact Us 1205 Jackson Street Suite 200 Sidney, NE 69162 Phone: 308-254-4230 Download Our App ©2021 All rights reserved.