Corn had a good day Friday, posting gains of 4-8 cents a bushel. For the week, December gained about 12 cents. More importantly it was the third week in a row corn had a higher weekly close! There is a possibility that corn has already seen the harvest lows. Remember Wednesday the USDA will release the quarterly stocks report. Many times this is a market mover if it comes in above or below the trade guess. Trade estimates for the stocks are 1.739 to 1.850 billion bushels.

Beans had a good day Friday, closing 17-22 cents a bushel higher. Beans closed higher four days last week and gained about 22 cents for the week. The big news Friday was that China agreed to purchase 13.1 MMT of beans. I am not sure what the time frame is on the purchase, one place I read over the next two years and another over the next year. No matter what the time frame, that's a lot of beans. Friday the USDA announced an export sale of 260,000 MT of beans were sold to China.

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