Market Report: Corn Firmer, Beans Lower Again

Corn closed 1-3 cents higher, which was quite remarkable given the stock market was down almost 1,200 points at one time this morning. By noon the stock market was down only a little over 100 points but closed down about 600 points. Corn was supported by a sharply lower Dollar Index. Corn export loadings were solid 34.8 million bushels loaded for export. Traders seem to feel that the corn crop will not get a lot better or worse from this point.

Beans closed 15-17 cents lower today. Beans were sharply lower early today when our stock market and the Chinese market were sharply lower. Beans did cut the losses to close down 15-17 cents a bushel. The Dollar Index closed at it's lowest level in a year and that was supportive. Export loadings came in at 8 million bushels, which was supportive. Hopefully the "bottom pickers" will come in and support the stock market, which would help support all the grains.