Market Report: Corn and Beans Higher

There was a lot of negative market chatter this week in the grain markets. The value of the dollar was moving higher, there is a big crop in South America, corn demand for ethanol would be down because of low gas prices, on and on the negative commentary went. Therefore, it was a bit shock when you looked at the weekly close on the charts. Corn was up almost 16 cents a bushel and beans were up more than 12 cents.

There is one issue that must be resolved, and quickly. The work slowdown on the docks on the West Coast. We export a lot of beef, poultry, pork and even corn and beans out of the West Coast. This labor dispute is costing the economy $3 billion a day. Ships and all kinds of products are backed up a at the ports. It sounds like this is going to come to a head next week. Hopefully it is resolved with no violence.