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Hobbyfarmer
Honored Advisor

Grain & Oilseed Market Briefs


Huge day, week for exports propels corn

Soybeans made another new round of multi-year highs on commercial and speculative buying, along with spillover from the outside markets.

 

The dollar was lower with the Dow, crude oil, and gold higher.

 

Corn was higher with the nearbys up sharply on fund and commercial buying, in addition to the outside market direction.

 

Friday was the biggest day for corn exports in more than 20 years according to Reuters with unknown buying 1.440 million tons of new crop and China picking up 120,000 tons of old crop.

 

 The wheat complex was higher on short covering, commercial buying, and spillover from corn, beans, and the dollar.

 

 Demand for U.S. wheat is a little slow but the fundamentals are showing some signs of improvement.

 

These are the short coments from the Brownfield network.

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