Corn down 2
Beans up 3
Yesterday, the December corn contract closed 2 1/2 higher, settling at $3.73 1/4, and the July contract was 2 1/2 higher at $3.97 3/4. Corn markets traded higher following beans, but have lost excitement with the unexpected increase of 2% in the good/excellent rating in yesterday’s crop ratings. Corn maturity is running behind normal, but the weather remains good for most of the Corn Belt.
The November soybean contract closed 9 3/4 higher at $8.92 1/2, and the July contract was 6 1/4 higher at $9.35. Beans traded higher yesterday with the reports that China bought 22 million bushels of beans shipped out of the Pacific Northwest. Beans are trading higher on the overnight with the crop conditions remaining the same for the beans on yesterday’s conditions.