By: Patrick McRae – Grain markets were weaker today with pre-report jitters. Little fundamental news is of much importance as we approach the USDA report tomorrow. As a whole, the market is expecting sizeable ending stocks with corn, wheat, and soybeans, but the question is how will it all add…
Author: Kelley Fornoff
Overnight Market Update
By: Kelley Fornoff – Overnight grain markets saw little action and are lower to near-unchanged this morning. At the break, December corn is 1’4 lower at 347’6, November soybeans are 0’2 lower at 965’6, and December Chicago wheat is 2’0 lower at 433’2. There was a slew of export sales that…
Afternoon Market Recap
By: Patrick McRae – Grain markets saw some choppy trade but eventually closed lower on all fronts. Wheat markets are still seeing some continued selling against trendline resistance, corn remains closely bound around $3.50, and soybeans are still trading around their moving averages. The Dollar index has broken nicely today…
Daily Market Comments
By: Kelley Fornoff – Corn and soybeans edged higher overnight in what could be shaping up to be a bit of a turnaround Tuesday. Focus remains on South American weather, US harvest progress, and Thursday’s Supply and Demand Report. At the break, December corn is 0’4 higher at 350’0, November soybeans…
Afternoon Market Recap
By: Patrick McRae – Grain markets found selling pressure throughout the day. Wheat seemed to lead the onset of selling with an aggressive outside day close. It seems that the lack of growing issues and lack of export demand has sent the market into another fresh leg lower. Dec 17…