10/25/2021

Wheat yet again supports the grain markets and makes new highs for the move.  We topped out today at 10.31 December futures.  Beans also had a nice day bouncing back from last weeks end of the week decline.  Corn was flat as we await something new to trade.  Outside markets helped be supportive as bean oil, financials, and crude trade higher.  Corn export inspections for the week ending October 21 came in at 545,127 metric tonnes from trade expectations for 750,000-1.2 million tonnes.  Corn business remains slow as new sales have not been seen in quite some time.  Soybean export inspections for the week ending October 21 came in at 2,103,505 metric tonnes from trade expectations for 1.800-2.625 million tonnes.  Bean oil continues to drive the bus in the bean market.  Overall, the markets feel range bound until we get something fresh to change that.  Both corn and beans are basically in a 50-cent trading range, corn 5.00 to 5.50 futures, while beans are 12.00 to 12.50 futures.  Continue to make sales near the top of the range.