The start of the new week brought prices up early in the session only to have them falter later in the day. Corn traded up 5 1/2 cents on its highs of the day, beans traded as high as up 17 cents and wheat traded up as high as 20 cents. The day had the feel of a market trying to find a direction to go with no road maps to follow. Exports inspections were relatively good for beans 45.6 million bushels and wheat 19.1 million bushels, corn was mildly disappointing with only 28.8 million bushels. Commercials were light sellers on the day. The close on the day was corn up 1/2 cent beans up 1 cent and wheat up 8 cent. It wasn't a truly convincing day either way for the grains. Tomorrow brings us the monthly supply and demand report with some unknowns soon to be known. It will be interesting to see if the carryouts on corn and beans remain the same or if they will be adjusted. If and when there is an adjustment just how big of an adjustment there will be. Tomorrow is just a few hours away so stay tuned in.
Chuck Peterson
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