The grains bounced in the overnight as traders see the possibility of increased demand after prices fell for four days in a row.
In the overnight session the grains are higher with corn up 6 ½ cents, soybeans up 11 ¾ cents and wheat up 10 ½ cents as we have moved past the holiday trade schedule into a more normal environment. The bounce this morning in the overnight comes after four straight days of selling pressure...
The holiday-shortened week did little to move cash basis levels across the country even as futures prices drifted lower. Corn basis on average across the US was unchanged for the week while soybean basis slipped a penny.
The grains are seeing some selling in the overnight as we move into the last trade day of 2014.
In the overnight session corn slipped ¾ of a penny, soybeans fell 5 ¼ cents and wheat fell 3 cents. Today is First Notice day for soybeans, soymeal and soyoil. First day deliveries included 20 contracts of soybeans, no soymeal and 1,143 contracts of soyoil which was well above expectations....[Read More]
The grains turn lower in the overnight session with only two days left to trade in 2014
In the overnight session corn traded down 3 ¼ cents, March soybeans slipped ¼ cent and wheat fell 5 ¾ cents as it tests the 20 day moving average on the daily chart. This morning a reportable sale of 157,500 metric tons of corn was sold to Mexico for 14/15 delivery.Wednesday the 31st is the...