December 24th, 2013
From all of us at Wheat Growers to all of you, have a very Merry Christmas!
Christmas Trading Schedule
Dec. 24th Grain Markets will close at 12:00pm. Livestock Markets will close at 12:15pm
Dec. 25th No Markets
Dec. 26th Grains will open at 8:30am. Livestock will open at 9:05 am, both closing at regular times.
Corn as of 7:45 am, 1 lower
Corn is down some this morning. Export inspections yesterday were at 35.89 million. China took 8 million of that. Vilsack returned from China with no solution on the GMO issue. South American forecasts still call for rain next week. Resistance at $4.40 futures. Support at $4.20 futures.
Soybeans as of 7:45 am, 2 lower
Soybeans turned south yesterday on what appears to be profit taking and it has continued into the overnight trade. Weather in South America is what everyone is watching. As we see in the chart below soybeans have been trading in a tight space. This seems like it will be the pattern until the Jan 10th report.
Wheat as of 7:45 am, Spr. Wheat, 2 lower. Win. Wheat, 3 lower.
Wheat found new lows in the KC and Minneapolis exchanges. There is no real “price positive” news for the wheat. Wheat charts are heading lower, and until something changes, that’s the direction they will keep going.