It was a pretty good week for corn as it was the second week in a row corn was higher on the weekly charts. Corn gained about 6 cents last week. The next target for December corn is the contract high at 4.29-1/2 which occurred last summer. Corn is being supported by this year's slow planting pace, less projected acres in the United States and dry conditions in Brazil where their second crop of corn is entering pollination. So it was a pretty encouraging week for corn.

Beans on the other hand were a little disappointing with Friday's losses of 12 to 16 cents. Another feature of the bean market was bear spreading where old crop is loosing premium to new crop November. Traders are anticipating a slow down in exports and crush. There is a trade delegation from the United States in China and traders sense trade relations are improving with China. Also supportive was the wet weather in Argentina where they are trying to harvest their bean crop that was reduced by the drought all season.


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