August 28th, 2015
Grain Marketing Specialist
Commodities are higher as Chinese markets improved 5%
Corn: 1 higher
Corn market is trying to post some gains this morning after this long week of ups and downs. Weather forecasts for the first 10 days of September are warm and wet. Resistance is at $3.78 for the December contract.
Soybeans: 4 higher
Soybeans trying to hold on to gains made in the overnight. China was a big buyer of US soybeans buying 32.6 million bushels of the 53.6 million new crop bushels sold. Resistance is at $8.86 in the November contract.
Prices are steady this morning. Export numbers yesterday were better than expected. Shipments, as a whole, remain slow. Weather forecasts should not slow down the remaining of harvest.