STATELINE COOPERATIVE’S EVENING COMMENTS FOR JULY 23, 2019
July 23, 2019
Corn: North Burt up 3 @ $4.12
Corn traded in a choppy range today, as it struggled to find direction. The weather continues to be favorable, and the slight decline yesterday in good to excellent failed to provide much support in the early part of the day. Corn turned higher towards the end of the session, and December corn closed 4 ¾ cents higher
Closes: September at $.25 ½ up 3 ¼; December at $4.31 ½ up 4 ¾; March at $4.40 ½ up 4 ¾.
Soybeans down 3 @ $ 8.03
Soybeans traded in a large range today, with the November trading between it’s 20 day moving average of $9.10 ½ and it’s 50 day moving average of $8.99. Weakness in soybeans can be attributed to a continued lack of follow through of Chinese buying. It was reported that trade talks between the U.S. and China will resume in person next week
Closes: August at $8.85 ¾ down 2 ½; September at $8.91 ½ down 2 ½; November at $9.03 ¾ down 2; January at $9.16 ½ down 2.