Grain > Commentary > 12-2-2020

12/2/2020

Dec 02, 2020

12/2/2020
The overnight markets were ugly with corn down 5 and beans down 17-20.  It looked like it was going to be the day we test 11.38 Jan futures, but we didn't quite get it done as we got within a nickel.  Corn led the charge back around 9:30 am on news that China was buying April corn and wheat.  I had a couple sources tell me that business got done and took a few phone calls looking for April corn, so it must of happened.  Corn finished up 3 nearly a dime off the days lows.  Beans finished down 9 cents as there is rain on the radar in Brazil.  More rains are forecasted in central Brazil and the markets will be paying attention to amounts over the next week.  The US Dollar continues to trade lower and has now tested 30-month lows and will likely continue lower as we approach 91.  That should continue to entice more export business out of the US.                     

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3/31/2025
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