MarketEdge PM Comments

(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!