Big news first, Shaun and Tiffany had a baby boy late yesterday afternoon. Jackson William Cotner, Baby has had an issue and is in Springfield but it is not serious at this point. Tiffany is dong fine and now Lincoln has a little brother. Congratulations to the Cotner family.
Markets tried to sell off and bounced back from the lows. Funds net sellers but not as much as they have been. Corn was down almost 4 at one time and beans down 14. That low was at 12:45 and the rally came at the end of the day. No clue why. Wheat gets the gold star for the day. December wheat up 17 3/4 cents. I would guess that the corn is stalled due the the approching harvest. There are some yield reports starting to filter in. Yields look good but there seems to be more variability than some thought. From the ones I have seen it look a lot like last year. Some are showing less than last year but in general good yields.
No basis changes today. I would not expect basis to get better between now and harvest. There is too much old corn and a good crop coming. Market seems to me to be stuck in a range. It will take some very good news to bust out to the top.
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