Overnight Grains
Grains on the overnight eCBOT market are modestly lower on the same old economy worries news. Wheat is around 3-4c lower, with corn down just a cent or two. Soybeans are 3-4c easier.
Corn hit a one year low in yesterdays CBOT session before recovering somewhat towards the close. There's still 29 percent of this year's corn yet to be harvested. That's around 3.4 billion bushels still out in the field. Snow, freezing rain and other precipitation in much of the Corn Belt is going to make this a difficult crop to wrap up.
If anything is going to stage a rally at this stage corn looks to be the one. There are no such problems for beans with the harvest just about complete, and wheat has gone into ground on the Plains with a better moisture profile than in many years.
Corn hit a one year low in yesterdays CBOT session before recovering somewhat towards the close. There's still 29 percent of this year's corn yet to be harvested. That's around 3.4 billion bushels still out in the field. Snow, freezing rain and other precipitation in much of the Corn Belt is going to make this a difficult crop to wrap up.
If anything is going to stage a rally at this stage corn looks to be the one. There are no such problems for beans with the harvest just about complete, and wheat has gone into ground on the Plains with a better moisture profile than in many years.
