Nov 26th 2014
Grain Marketing Specialist
Holiday Trading Hours: Today -normal hours, no trade tonight or tomorrow, Friday- 8:30-12:00 cst
Corn: As of 7:45- 2 higher
The corn market remains firm on spillover support from soybeans and wheat along with the announcement of a 116 tmt sale of milo yesterday. Technically this market remains range bound with 2 of my 3 indicators now bullish. Food for thought- there are board carries all the way out to 2015 and beyond. Have you been thinking of a plan for the upcoming crop year? I have attached a corn/ bean ratio chart below.
Soybeans: As of 7:45- 3 lower
Soybean market continues to remain firm on solid exports and a strong meal market. SA weather appearing to be less of concern these days as conditions have gotten better. Technically all 3 of my indicators are bullish this morning with resistance at 10.59 and 10.86. As with corn I would encourage people to start thinking about a plan for 2015 production.
Wheat: As of 7:45- 5-8 higher
The wheat market is firm as well primarily on concerns on winter wheat conditions. This had KC wheat leading the way yesterday and into this morning. Technically we appear to have broken out the recent range- let’s see if we can close here now.