The Grain markets were also all over the place today, and resembled yesterday’s trade. January’24 Soybeans traded up to 1384 ½ today. That was today’s high and the high for the month. Soybeans broke from there, and January’24 soybeans settled at 1365 ¾, up 3 ¾ for the day. Since 11/1 January’24 Soybeans are up 50 ¾ cents or almost 4%, and since 10/6 they are up 81 ¼ cents or over 6%. Corn was able to regain some of the recent losses. December’23 corn was 7 ½ cents higher today and settled at 476. Since 11/1 December’23 Corn is up 4 ¼ or almost 1% higher. The Wheat looked strong today. December’23 Wheat climbed 22 cents today and settled at 592 ¼. Today’s high of 598 ¾ was the high for the week. Since 10/6 December’23 Wheat has gained 24 ¾ cents or over 4%. Soybeans and Wheat have been strong over the last month. Tomorrows WASDE Report will help pick a direction going forward. I still think the Soybean market is overbought and needs a corrective break. I believe there is still upside in the wheat market.
Bill Allen
Senior Account Executive
Direct: 1 312 957 8079
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