10/26/2021

Minneapolis wheat had an interesting day to trading up 21 at one point making new highs for the move at 10.47 futures, before finishing the day in red figures at 10.21 futures.  When wheat sprang higher it pulled corn and beans into green figures after struggling most of the morning.  Corn topped out up 8 cents at 5.47 futures.  5.48 1/2 was our high on September 30th, so that should be stiff resistance.  Maybe oats know something we don't as they busted out over $7.00 futures today for the first time!  We will have to see how the rest of the week plays out as the bulls and bears should be on their toes as decisions need to made at these levels.  We did have a couple bean export sales announced this morning, 199,000 metric ton to China and 125,730 metric ton to Mexico.  Still no corn sales, so we wait!  Those of you with bean basis fixed contracts need to be priced or rolled to the Jan by Thursday at the close.