Market Report: Another Down Day for Corn and Soybeans

Both corn and soybeans closed lower today. Corn spent most of the day down 5-6 cents and that is where it closed. Soybeans were worse, closing down around 19 cents.

Corn had a good export loadings number at 1.280 MMT. Remember, export loadings are bushels that were loaded on ship and left the country.

Export loadings for soybeans were at 635K. Export loadings for soybeans are starting to decrease as they do every year at this time of year. This is when South America begins to move its soybeans onto the world market. However, soybean export loadings are way above last year.

It did not seen like there was a lot of new news for the bulls or the bears  to work with today. It just seemed like today the path of least resistance was lower.

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