We managed some to shake off those jitters from earlier to close higher -- nearby corn, beans and wheat all ended up 9+ cents higher. Here's the whole shooting match for today.
This weather deal in South America sounds like it's getting pretty serious. Here's some really good discussion that includes, it sounds like, a perspective from down South. And, here's a group of maps one of our friends & contacts in Brazil sent along this afternoon.
So, I guess the take-home is it rained, but not enough?
Anyway, another good, strong close. Anybody making it worth your while? I know I am -- 3 days of higher closing sessions for the B-Team. I'll take it!
Hey, enjoy the rest of your day! See you all here tomorrow a.m.!
Jeff
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Hey, hey! Don't count out the B-Team's good luck just yet! Ha! At mid-day, March corn has moved 4 1/4 cents higher to $6.11 1/4 per bushel, January beans are 5 1/2 higher at $11.50 and March wheat is 4 1/4 higher at $6.12.
Left a message with one of our contacts down in Brazil and she said she'd gather some rainfall totals and maps from the last couple of days and send them to me. I'll throw them up here as soon as they hit my inbox.
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So, it's raining down in South America, and that's got traders moving the grains lower in Chicago this morning. March corn is 2 1/2 cents lower at $6.04 1/2 per bushel, January beans are 2 1/4 lower at $11.42 1/2 and March wheat is 6 1/2 lower at $6.01 1/4.
Everybody have a chance to see Scott Shellady's latest video? Got it posted here yesterday. This week, he's talking MF Global and the pace of trading between now and the end of the year. Here it is:
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Well, the honeymoon couldn't last forever, I guess! Looks like we're starting a tad lower this morning -- In the latest from the overnight trade, March corn slipped 3 3/4 cents to $6.03 1/4 per bushel, while March wheat was 4 1/2 lower at $6.03 1/4. January soybeans fell 3 3/4 cents to $11.38 per bushel. That's got early calls around 2-4 lower for corn, 5-7 lower for beans and 4-6 lower for wheat.
But, NCcorntrader says in his post from last night that the turn lower likely isn't going to be too long of a trend -- there's a lot of upward pressure remaining, it sounds like, from the weather in South America and bullish outside factors. So, maybe we'll see a turnaround after the opening bell clangs this morning? What do you think? Just a little profit-taking behind this, or is the bull surge out of gas already?
Got a touch of snow here in Des Moines last night. Nothing to write home about, for sure. Hearing more reports from out in my old stomping grounds in western Kansas...they got a nice, solid blanket of snow on that wheat crop out there the last couple of days. Moisture's moisture, and even though it got pretty rough in some parts of the country down there, the farmers I've talked to say they're pretty happy with the moisture!
Anyway, hope everybody's staying warm this morning! More in a few...
Thanks for always giving us the best info you can. I had a little bit of corn sitting in the elevator that didn't fit in my bins at harvest, I might sell yet. I was hoping to ride out the 'B-team rally' through today, so don't let me down!
Seriously, though, thanks for the effort, and just WHERE did he get that suit?
Hey, thanks. Appreciate your kind words. I can at least act like I know what the heck is going on once in a while! I'll do my best to get those guys to turn things around in Chi-town so you get that B-Team rally you're looking for! Ha!
I would be remiss if I didn't include this poll here now!
Wow, you guys are actually reading my posts? Looks like the run up is continuing today- now at around 614. I got out of my last position at 609 and change, now waiting for a dip to re-buy. Buying action looks strong.
NC
I couldnt even get this posted without it jumping to 619
Back in long at 614.50 - traders love this kind of action. I expect another wave of buying.
