Corn up 7
Soybeans up 8
Grains trading higher this morning with corn up 7 and beans 8 cents higher. The trade is rebounding after an interesting USDA report yesterday that led corn to close double-digits lower. Soybeans were up 15 at one point, then closed steady to end the day. Corn production was estimated larger than expected with lower usage and poor export sales. Soybean yield and production were decreased, giving beans short-lived support. News headlines from negotiations with China are all over the place… sources say talks are “positive” but no concrete agreements have been reached. The trade is also focused on the obvious weather in the corn belt as cold temps roll in after strong rain totals.