TW LW AVG Ohio
Corn 84% 76% 87% 78%
Beans 88% 83% 93% 85%
Soybeans saw a nice bounce after yesterdays beating while corn/wheat futures were stagnant. This is strictly politics at play here and the market is extremely focused on what develops at the Summit next week. The Midwest is still plagued with cold/wet weather likely pushing any harvest activity to after the thanksgiving holiday. There will be a full market day tomorrow (Wednesday) no markets on Thursday followed by a short session on Friday. Please check the website for office hours.
The market was all red as the POTUS has again threatened more tariffs with China if a trade deal doesn’t make its way to the table in short order. This has traders nervous as the G-20 summit approaches. A trade deal is needed for a rally to unfold on the board. South American weather remains mostly favorable and the first exportable beans will be available in just over 2 months. This is crunch time for the tariffs/trade deal. Corn and wheat followed beans lower both closing in the red. Locally the wet weather has stalled/delayed the last 15% of harvest. Frozen ground is going to be required in some spots as its just too soggy for heavy machinery. This will be a short market/holiday week for most. Please check the website or call the office for market/dump hours. Thanks