Corn down 4, beans up 8, wheat up 6

Crude Oil- 62.80 up 2.62
US Dollar- 91.64 down .21

DOW- 33,730 up 53

The markets had an interesting opening to the day with corn and beans both higher overnight, the market opened and the market fell apart only to climb back out of the hole with the only loser on the day being old crop corn. A couple of things here, the dollar is weaker again today and so that did lend some support for the market to fight back a bit. Also, the forecasts are very cold at night and there are concerns for some that the corn that has been planted could get nipped but also it doesn’t help the germination of the corn that’s just been recently planted. This week has been a big week for grains, corn has rallied 21 cents since Monday with beans up 41 cents, wheat has rallied 25 cents. We still have to get through tomorrow’s session but it seems like this will be a big week for grains. There’s little to talk about on the China front. You’ll need to pay close attention to the weather market.
Stay Tuned.

Copyright DTN. All rights reserved. Disclaimer.
Powered By DTN