December 1, 2014
Grain Marketing Specialist
Corn: 2-3 Lower
March corn traded lower all night, mostly reaction from Friday short trading day. For those who still had corn in the field saw decent weather over the Thanksgiving weekend to try to complete thier harvest. Should see harvest numbers come in as near complete for most areas.
Both meal and beans were firmer in the overnight. Down south, Brazil is seeing favorable weather to complete their planting season. Thoughts are that its about 85% complete. While Mato Grosso is 98%. China slowing economy may have an impact on soybeans, which may limit upside potential.
Wheat continued to remain firm after Fridays positive rally. Key here is Russia. Russia has crop production issues and may affect their export market. But still US wheat remains uncompetitive in the world market with a firmer US dollar also the colder temps have been a concern as well.