Grain Markets Closed Today
The Grain markets are closed today in observance of Presidents Day. The overnight session will open at the normal time this evening at 7:00 pm. Corn prices went nowhere last week. March gained a half cent while new crop December was unchanged. I believe the technical term is "range bound." My term would be boring but I guess that is better than corn prices dropping. On Friday the normal weekly export sales is supposed to finally get us current with all the export sales after the government shutdown. Hopefully there will be good export sales for some excitement?
It was almost as boring in the bean market last week too even though beans managed to gain about 4 cents on the week. Trade talks with China continue to provide some hope to the bean market. Plus hopefully the delayed export sales report Friday has good news for soybean exports too. Remember, the weekly export sales will be delayed one day this week because the markets are closed today for Presidents Holiday. In addition the weather in Brazil is less than ideal even though traders are not talking about it. Longer term it could prove to be very supportive to soybean process.