Corn 2 to 3 lower
Beans 3 to 6 higher
Corn is still feeling pressure from a lack of fresh demand and harvest progress at a record pace.
Soybeans are getting some fresh news from dryness in South America as well as strong demand.
Forecast in the Midwest calling for cooler weather, but not a lot of precipitation. With that forecast, most of harvest thru the Midwest will be wrapping it up in the next 2 weeks.
One thing to keep in mind: if you are not selling, you are buying. In the case of soybeans, do you really want to buy at or near the top of the recent market? Please take a look at the futures prices and cash prices for everything after January. There is an INVERSE in both today, and the fear is it gets worse, not better. Please think carefully about NOT selling beans at current levels, even if it’s for delivery in January.
We also continue to encourage OFFERS for either immediate delivery or delivery Post-Harvest. This market is VERY volatile right now. Funds are holding relatively large long positions currently. The only way out for them is to SELL. At some point, they will do that. Please be prepared to defend your LONG position.