Market Report: Corn and Beans Higher

It seems like it has been a long time since both corn and beans closed higher. Corn managed to post strong gains of more than 5 cents. Export loadings were 894,609 MT, which was an OK number. The USDA also reported that 120,000 MT of new crop corn was sold to an unknown destination.

Beans posted double-digit gains, closing 12-13 cents higher. Many times you will get a change of market direction coming out of a holiday weekend. Many times there is not any new news to move the market either. Somehow old news that was known now makes a difference. Export loadings came in at 93,308 MT. The USDA reported a daily sale of 120,000 MT of soybeans were sold to an unknown destination for the 2015-16 crop year. Remember the USDA Supply Demand report is out next Friday.