Grain markets went separate directions ahead of the Thanksgiving break with corn pushing moderately higher and soybeans trading weaker. The corn market didn’t see much fresh news in today’s session but we did see fairly impressive weekly ethanol numbers which helped give the corn market a little bit of strength. Beans fell moderately lower in today’s session despite an export sales announcement of 120,000 MTs of beans being sold to China this morning. There was a little bit of talk that producer selling saw a little bit of an up-tick today which may have led to some of the weakness in the bean markets today. Funds were estimated net buyers of 7,000 corn contracts and 2,000 wheat contracts and sellers of 2,000 bean contracts. Outside markets saw the Dow down 22 points, Crude Oil was down 46 cents in late trade, nearby gold futures were down right at a dollar, along with the U.S. Dollar Index being 24 basis points weaker.
Holiday Trade and Office Hours Wednesday, November 26th: Grain Markets Close at Regular Time 1:15 PM. Heritage Grain Offices will Close at 2:00PM
Thursday, November 27th: Grain Markets and Heritage Grain Offices are Closed for Thanksgiving.
Friday, November 28th: Grain Markets will Open at 8:30AM and Close Early at Noon. Heritage Grain Offices will be Closed.
This data and these comments are provided for information purposes only and are not intended to be used for specific trading strategies. Although all information is believed to be reliable, we cannot guarantee its accuracy or completeness. The risk of loss in trading futures and/or options is substantial. Each investor must consider whether this is a suitable investment. When trading futures and/or options, it is possible to lose more than the full value of your account.
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