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IN | What’s everyone think it’s going to do? I’m going to say slightly down for both until we get more news that buying is actually going on. We had a pretty good week last week so a little correction wouldn’t surprise me until we go a little higher.
Saying always goes beans don’t spend much time in the $11 range and some futures months are currently a little shy of halfway over $11. I think testing the $12 range is a possibility if the buying goes as planned. If the government opens and we get reports again I don’t believe it will be very positive to markets. I think the yields will be slow if ever to be adjusted down and exports will always be lighter than suggested.
Corn is a wild card being mostly influenced by beans. Without support from beans I feel upward movement will limited. Any rallies will quickly be sold by farms looking to pay seasonal bills and locking in small profits. Again I don’t think USDA will be quick to do any adjusting and huge acreages will plague the market strength.
In summary I think markets will be looking for some sort of tailwinds to keep the upward momentum going but I do believe the bearish tank is running a bit dry at this point. If continued buying happens my targets will be letting go of some beans at the $12 futures mark and corn will be trickled out a little at a time. $4.50 cash would pay the bills for most including me with some gravy to start pricing more 2026 inputs. Current cash prices for my area are $4.11 corn and $10.89 beans. | |
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Opening guesses?
