By: Patrick McRae – As is often the case, the shortened trade day was not without some excitement. The grain markets as a whole saw some selling pressure. Dec 17 options expired today which likely led much of the selling indication as many are likely covering positions. Nothing too noticeable…
Author: Kelley Fornoff
Afternoon Market Recap
By: Patrick McRae – The Bulls appear to have taken Thanksgiving. Grains were able to bring in mostly positive gains with soybeans again leading the charge higher. The range trade and some supportive weather potential have given the speculative interest even more topside potential to the soybean markets. Wheat saw…
Overnight Market Update
By: Kelley Fornoff – Soybeans are leading the way higher in the overnight on seasonal buying At the break, December corn is 0’2 higher at 345’2, January soybeans are 5’2 higher at 994’2, and December Chicago wheat is 0’4 lower at 424’2. Yesterday Russia confirmed a spike in radioactivity in…
Overnight Market Update
By: Kelley Fornoff – Grains found some mild pressure overnight and the US harvest is nearing completion for the year. At the break, December corn is 1’4 lower at 343’4, January soybeans are 2’0 lower at 988’0, and December Chicago wheat is 0’6 lower at 421’2. China is back purchasing US…
Afternoon Market Recap
By: Patrick McRae – Grain markets found supportive action in corn and soybeans but were unable to drag up the wheat market. The reference points for the day appeared to be focused on the large net short spec positions in corn, as well as their large net commercial long position….