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12-02-2011 07:43 AM - edited 12-02-2011 02:44 PM
Well, we ended about how we started, with corn lower and wheat and beans higher. March corn ended Friday 8 1/4 cents lower at $5.86 1/2 per bushel, while January soybeans were 7 3/4 cents higher at $11.35 3/4 and March wheat was 10 1/4 higher at $6.12 1/4.
There's still just no news on the export front for corn, and some expectations are that there won't be much renewed export demand there for a couple weeks yet. So, will it keep trickling lower while wheat and beans ride outside factors higher?
An interesting discussion developing over here on cash corn prices. Hovering around $5 in some areas, are they sagging enough to discourage more intended corn plantings for next year?
Well, thanks for bearing with the B-Team this week. If you have any disparaging words for me to pass along to Mike when he gets back, let me know! Hope everybody has a great weekend! Stay out of that snow!
So, is demand lagging, or is it still strong? Sounds like export demand is the weakling, but it sounds like maybe domestic demand -- namely from feed and ethanol -- is still fairly strong. What are you seeing?
That's got the grains sort of floating around on either side of zero, it looks like. After a lower day for corn and beans yesterday, it looks like today's going to at least start higher for all grains. Early calls for the grains are corn 2-4 higher, soybeans 5-7 higher and wheat 4-6 higher. In overnight trading, March corn was 1 1/2 cents per bushel higher at $5.96 1/4 per bushel, while January soybeans were 5 1/4 cents higher at $11.33 1/4 and March wheat was 4 cents higher at $6.06.
We going to hang on to these gains today? I hope so, so I can rub it in to Mike when he gets back in Monday morning!