Corn And Beans Are In A Tight Trading Range Through October

Jon Scheve discusses similarities of corn and bean prices in October between 2022 and 2023.

Jon Scheve
Jon Scheve
(Marketing Against The Grain)

The corn market has closed within a tight 25 cent range throughout October. Farmers have not been selling during harvest, which has kept prices from falling much. However, large potential carryout concerns are keeping prices from increasing.

Soybeans have also held to a tight 60-cent price range during October. Like corn, farmers are not selling during harvest and lower than expected yields in the west are keeping a floor under prices. However, Brazil’s next crop is also keeping prices in check.

Interestingly, the trading range for corn and soybeans during this same 3-week time period was very similar to last year. The only difference is that corn is trading $2 per bushel lower this year, while beans are $1 lower.

Want to read more by Jon Scheve? Check out recent articles:

Corn May Be Stuck Trading Sideways, But Beans Could Have Some Upside Potential

Are The Lows In For Corn? Maybe Not Yet

Which Crop Should You Store If You Don’t Have Enough Storage?

Why You Should Never Sell Cash Corn

Do the “Quick Ship” High Basis Values Indicate the US Is Out of Corn?

Jon Scheve / Superior Feed Ingredients, LLC / jon@superiorfeed.com

AgWeb-Logo crop
Related Stories
Grains recovered off the lows after USTR Jamieson Greer stated significant progress had been made with China, including on ag trade, and details would be released on Monday.
Varilek says the slowdown in slaughter tied to ICE raids has hurt producers leverage in the cash market and it has been reflected in northern bids.
The market wants details, especially of what is included in the additional $17 billion prorated ag purchases China has promised, beyond soybeans
Read Next
After a growing season with multiple windstorms, tornadoes and 15" to 20" more rain than normal, Cody White in Maroa, Illinois is seeing corn bushels 25-30 bushels lower than last year.
Get News Daily
Get Market Alerts
Get News & Markets App