Skip Navigation

November 22, 2023 Grain Commentary

Kasey Baker
Daily Grain Commentary
Nov 22, 2023

Market Re-Cap 11/22/23

Wishing you a safe and happy Thanksgiving.

Mixed markets throughout the day. Beans traded on both sides of the market. Corn traded neutral. Wheat had another positive close. Markets are closed until Friday at 8:30 am. Friday will trade from 8:30-12pm, closing an hour early.

Corn– Corn had little action, trading in the tightest range today. Each contract lost 1.5 cents through new crop 24. This even change is holding the wide carry. A lack of stimulating news fueled the meek trade in corn.

Beans– Beans close within cents of the low. Both meal and oil closed lower as well. The morning announcement from ADM led the markets lower as Direct of South America said Brazilian weather is concerning, but a record harvest is still expected.

Wheat– December wheat took out the contract high but did not close there. The support came from an uptick in export sales. Ukraine exports slide lower than the 2022 marketing year. Corn is down 35%, while wheat is down only 13%. Ukraine’s food shipment has also declined by 5% since the Polish trucker blockade.

Kasey Baker
The DeLong Co., Inc.

The risk of using futures and options can be substantial and individuals must consider whether they are suitable for their operation. Marketing advice is based on information obtained from third-party sources and is believed to be reliable, but not guaranteed by Yield 365. Past performance is not necessarily indicative of future results. Marketing advice reflects our good faith judgement at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades.