Corn wound up lower on Friday as a lack of news and mixed outside markets left traders without much clear direction. So far the frost threat has helped to keep prices anchored, with the weekend forecast showing near record low temperatures moving over much of the corn belt this weekend.
Soybeans continued their climb upward as the November contract closed 15 cents higher on the day. Soybeans continue to find strength as the pipeline searches for supplies amid a very tight old crop supply, as well as how this weather will finish out the crop, and what effect it will have the potential yield.
Crude oil ended up slightly in choppy trading on Friday, after a downbeat consumer confidence report dented demand recovery hopes and offset higher consumer spending. Talk of crude futures prices being locked in range, with the top end at $75, and low end of $65.
Have a good weekend!
Chris Spurlock
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