MarketEdge PM Comments

Nov 10, 2023

(Taylor Bensenberg)

Good afternoon, 
Mixed trade today. December corn closed down 4 cents at 4.64 and March corn closed down 3 ¾ at 4.79. January beans closed up 4 cents at 13.4750 and March beans closed up 3 ¼ at 13.6075.
  • Grains are still trying to digest the bearish WASDE report that was released yesterday 
    • The December report usually features small changes, or no changes at all, so the next big report will be in January 
  • After the report is digested, the market will return its focus to South Americas weather and U.S. export potential
  • Russian missiles struck a civilian ship near Odesa, Ukraine which is in turn driving freight higher in the Black Sea
  • President Biden and Chinese President Xi JinPing  are set to meet next week 
  • Make sure you are staying current on your contracts as river close is about a month away 
Happy Veteran's Day on behalf of River Valley Cooperative!
Have a great weekend!

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Corn took the lead while soybeans treaded water lightly.
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