It was a good day for corn Tuesday, gaining 3-4 cents. Corn continues to trade in a sideways pattern. Neither the bulls nor the bears can manage to get corn to break out. You might say a sideways pattern is a major moral victory for the bulls. It seems all traders are convinced that the USDA will raise production and carryover in Tuesday's Supply Demand Report. A victory because corn is holding well off of the contract lows from last summer.

Beans, too, are trading in a sideways pattern, and holding well off the summer lows. Also like corn, traders are expecting the USDA to raise the yield and carryover in Tuesday's report. While corn export sales have struggled a bit they have been very good for beans. Beans closed Tuesday within a penny of unchanged. With our harvest essentially done, traders will now focus on the South American growing season.

More From KDHL Radio