December 14, 2017

 

Corn: Corn basically steady in thin volume last evening. Short covering was noted. Weekly export sales reported at 867 tmt in a range from 700 tmt to 1.2 mmt. Corn continues in a choppy directionless trade at the bottom of its trading range. 

Soybeans: Forecast for beneficial rains in South America this weekend and next week weighing on values this morning. Ideas that Brazil’s soybean as big as last year keeping a lid on any big upside moves. Weekly export sales reported at 1.6 mmt in a range from 1.4-2.2 mmt. Calls are for continued lower on wetter outlook and big crop to get bigger in Brazil.