MarketEdge PM Comments
Nov 17, 2023
(Taylor Bensenberg)
Good afternoon,
Grains are suffering losses as we close out the week. December corn closed down 7 ¾ at 4.67 and March corn closed down 8 cents at 4.8525. January beans closed down 20 cents at 13.4025 and March beans closed down 18 ½ at 13.5650.
Good afternoon,
Grains are suffering losses as we close out the week. December corn closed down 7 ¾ at 4.67 and March corn closed down 8 cents at 4.8525. January beans closed down 20 cents at 13.4025 and March beans closed down 18 ½ at 13.5650.
- South America's weather is improving, dry areas are set to see rain in the upcoming days
- Highs were charted on Wednesday, but the market was unable to break through key technical chart targets which encouraged profit-taking
- The Buenos Aires Grain Exchange lowered their corn and wheat production estimate and in turn raised their soybean production estimate
- The Dow closed higher followed by the energy markets with the U.S. dollar softer
- Grain markets will be closed on Thursday for Thanksgiving and will trade on Friday from 8:30 AM to12:05 PM