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Closing Grain & Soybean Comments May 23rd, 2018. Corn futures rallied to their highest levels since July, 5/23/2018. finishing 2-4 cents higher on the day. The trend in corn Settle Change Low High remains unquestionably higher as it has since late January. RJO trader, Josh Patience, noted a huge spike in volume at CN18 1:14 pushing prices to new highs late. The corn spreads CZ18 were steady-firmer with the July-Dec settling at 18 cents SN18 carry (in from 18 ) and Dec-July '19 settling at 15 cents SX18 carry (in from 16). Generally higher ag markets, solid old SMN18 crop demand and seasonal May/June/July weather concern BON18 supported prices. WN18 Soybeans led the way higher most of the session and KWN18 finished 8-9 cents higher. Increased optimism that the MWN18 Chinese will again be buying US soybeans soon and strikes in South America supported prices.

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