Cedar Rapids Mill

We can only take hopper bottom trailers for corn.

 Speed limit is 10mph 

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Market Commentary 7/22/2024

Grains saw some nice relief on the board today as corn and beans posted some nice gains on the day. The positive price action is thought to be largely weather driven, as the extended forecast is hot and dry for much of the corn belt, plus, the market might’ve been a little oversold heading into the week. Crop conditions scores came in at 68% G/E for beans, which is the same as last week. Corn was 67% G/E, down one percent from last week. Old crop exports for corn and beans have been right on the money to keep in line with USDA goals, and the US continues to gain new crop sales as we are becoming more competitive with these lower prices. Soybean crush margins and ethanol margins are also very profitable, which is keeping demand strong for processors. Farmer selling picked up a bit today with the nice price action, along with some attractive options strategies that were reasonably priced with the movement. The Funds still hold record shorts in corn and near record in soybeans. Have a good evening!

** This communication has been prepared by Cargill, Incorporated.  The information in this communication does not constitute “investment service,” “investment advice,” or “financial product advice” as defined by laws and/or regulations in any jurisdiction, and the contents of this communication should not be construed as investment, legal or tax advice.  Each person should seek independent investment, legal and tax advice concerning the consequence of entering any transaction.