Minnesota Broker It Was an Odd Week [Listen]

Commodity Broker Gordy Kravoletz with Chiodo Commodities said it was an odd week in the ag markets as the weather was very friendly in South America. It was Wednesday that the USDA released one of the biggest reports of the year so we were kind of "marking time" until 11:00. Generally speaking the corn numbers were neutral and the beans a little friendly. So, after the close Wednesday we got through the report without a big move lower.

Then later on in the week corn and soybeans came under severe pressure. Gordy said it looked like it was fund selling. After being down hard Thursday we did see a small recovery Friday. We saw the heavy selling even with the USDA announcing a daily export same almost every day during the week. Plus the weather in South America was very friendly. It continues to be much too hot and dry in the south and wet in the north.

attachment-GORDY RECAP 1-14 (2)

Remember, the grain markets are closed Monday for Martin Luther King Day. They will reopen Monday night for the overnight session. Click on the link and listen to Grody talk about the ag markets last week!