Markets Mixed Wednesday

Corn did close firmer two days in a row, but could not make three in a row as corn lost 3-4 cents. Looking ahead there is just not a lot of new news that can come from any reports. Next week we do get the December USDA Supply Demand Report, but no adjustments to production will be made in this report. Looking back there has not been a lot of news to move the corn market either, and what we had was bearish for corn. The October USDA Report was negative, wheat prices have dropped almost 80 cents and the Dollar Index has been moving higher.

Beans however managed to close higher for the third day, with gains of 3-4 cents. Traders might be starting to get concerned about the weather in South America. Northern Brazil has been hot and dry and southern Brazil remains too wet. In addition for the next couple of weeks northern Brazil is supposed to remain dry. Planting is running behind the average five-year pace, and that might impact their second crop corn. Maybe if beans can keep grinding higher they can pull corn along.