Corn hung in there fairly well Tuesday after the disaster Monday, closing about a penny higher. December new crop did close below $4 a bushel for the second day in a row and that is troubling. I am not going to be in too big a hurry to start pricing new crop just yet. I just keep thinking according to the USDA we have had three big crops in a row. What are the chances of having great weather for the fourth year in a row? The odds have to be stacked against that happening! Besides, time is on my side for new crop. The 2015 crop I have in the bin unpriced is more troubling. I am sure a lot of farmers are in the same boat wondering what to do. Remember the USDA Report will be released this morning at 11. Traders are expecting another negative report and I hope they are wrong.

Beans did see follow through selling Tuesday after the big losses Monday, closing down 5-6 cents. The Dollar Index was slightly higher, putting pressure on beans. Bean oil has been supporting the entire bean complex on concerns about world vegetable supplies. Normally it is bean meal that is the strong one. Traders are not expecting any big changes in the USDA Report this morning on the bean side. Hopefully they are wrong here too and maybe we could get some friendly numbers for a change.

More From KDHL Radio