Mar Corn +5 cents/bu (4.40)

Jan Soybeans +0 cents/bu (9.93 3/4)

Mar Chi Wheat -1 cents/bu (5.57 1/4)

Crude -1.17 (67.13)

CAD$ -0.000645 (.70675)

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Talk about a quiet day. Weekly headlines continued to bounce around today, pulling the grains in both directions amid a lack of new news. Technicals were good last night, so it will be watched closely to see if any of that strength relays into next week. Funds were thought to have been mixed today, with corn expected to have bought 16,000 contracts (long 92,000), soybeans to have bought 2,000 contracts (short 43,000), and wheat to have sold 1,000 contracts (short 67,000).


Wheat

  • Russia might have a bad crop?

Soybeans

  • Good demand (but are countries front loading?)
  • SA production looks favorable
  • 45Z? Will it pass before Jan 20th or not?

Corn

  • Good demand continues
  • Still sitting on large stocks


Have a great weekend.

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