Friday Market Report: Corn Weaker, Beans Firmer

Corn ended the week Friday 1-2 cents lower. For the week, December corn lost 9-3/4 cents, closing at the lowest price since early in September. On the positive side, key support did hold at $3.72 in the December. December corn is still holding in the range is has been in for months. The jobs report Friday morning was better than expected and that supported the dollar. When the Dollar Index goes up it makes our corn less competitive on the world market.

Beans were lower earlier in the day but managed to recover and post small gains of 3-4 cents. November beans lost 12-1/2 cents on the week. The Dollar Index surging kept a lid on any rally along with Tuesday's USDA Supply Demand Report. Traders are convinced the USDA will raise yields and carryover. We have seen very good export demand lately and that has been supportive. Parts of South America are still hot and dry. If that continues it should get traders attention.