Grain market overview (3.13.23) | AgWeb

Closing prices & market overview

It was a wild start to the week, after a weekend of uncertainty surrounding the collapse of the Silicon Valley bank. Well, risk off was the attitude in early morning trading, but nerves settled a bit by the end of the day.

May corn ended today’s session 3 ¾ cents lower, settling at 613 ½. The new harvest contract for December was ½ cent lower at 557 ¼.

may beans was also under pressure, settling 15 ¾ cents lower at 1491 ¼, the first close below $15 since the 1st of the month. The new crop November contract was under slightly more pressure at 1339 ¼, which was 18 ¼ lower and puts the market within a stone’s throw of multi-month lows.

Wheat was the bright spot (not including cotton), with the May Chicago contract ending 5 ¼ cents higher, falling to 684 ½. Assuming that funds are still aggressively short wheat, a risk-off trade would be for funds to buy back those short positions, which may be why such depressed markets as wheat, cotton, natural gas, among others, were best.

Below is a snapshot of this morning’s weekly export inspection report.

Pick and choose the reports you want!

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Futures trading involves a significant risk of loss and may not be suitable for all investors. Trading advice is based on information obtained from trading and statistical services and other sources that Blue Line Futures, LLC believes to be reliable. We do not guarantee that such information is accurate or complete and should not be relied upon as such. Trading advice reflects our good faith judgment at a particular time and is subject to change without notice. There is no guarantee that the advice we provide will result in profitable trades. All trading decisions will be made by the account holder. Past results are not necessarily indicative of future results.

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