Good Morning. The December supply/demand report is now behind us so now what? News is expected to very limited through the end of the year. The lower ending stocks numbers from yesterday failed to provide much enthusiasm to the market, so more range bound trade is anticipated in the short term. March corn continues to find resistance near $4.40 while the reversal lower in nearby beans yesterday could also create some resistance there. Slow producer selling and strong exports offer support. China is said to have rejected another cargo of U.S. corn and there is talk that a few more rejections will be coming soon. Egypt is looking to buy Russian wheat in its latest tender. World Weather is calling for a short bout of warming late next week across the Midwest. They are also predicting another wave of very cold temps towards the end of January. They remain a little concerned about precip totals this winter in the west, but realize there is time in the spring to recover. December futures go off the board on Friday. Ethanol numbers will be out today with export sales out tomorrow.
Yesterday's USDA Supply & Demand Report
USDA – Dec.
USDA – Nov.
Corn Ending Stocks
Bean Ending Stocks
Wheat Ending Stocks
Comments provided by Mid-Co Commodities
Have a Good Day & Be Careful!