Grains Post Higher Closes Despite Plenty of Bearish News

So far in 2023, December corn has been comparable to 2012 and 2013. However, in 2012, the weather turned dry in late June and it continued into July. In 2013, timely rainfalls in July led to mostly trendline yields. Will 2023 follow suit with 2012 or 2013? Jon Scheve says it depends on these unknown factors.

The Federal Reserve raised interest rates 25 basis points on Wednesday and remains adamant interest rate cuts will not come until 2024 at the earliest.

Companies shipped more oil, natural gas and vehicles overseas resulting in a 2.1% increase in exports in March versus February to a seasonally adjusted $256.2 billion. Though ag exports improved to $15.87 billion in March, up nearly 4% from February, imports surged to $17.68 billion, a 16% increase from the prior month.