Good afternoon bloggers! Today we say CK0 close -1 cent at $3.54. All corn futures were down -1 cent today. Soybeans didn't do any better and closed -5 cents at $9.25. All soybean futures closed down a few cents on the day.
In regards to market news, it was a lackluster day. Not much fresh news. USDA announced a sale of 116,000 tons of US corn to South Korea. CIF corn has not done well this week and has dropped to +31. Ethanol finished 1.18% lower at $1.59/gallon. Soybeans were lower on the day. Soybean futures seemed to slide following yesterday's performance. Private exporters reported export sales of 220,000 metric tons of soybeans for China delivery.
Oil and other energy futures fell today. Gold prices continue to fall as the strength of the Euro increases. Gold has dropped 4% since two weeks ago.
Look for the weather to remain warm with rain this weekend. There is a system moving through that will be bringing some rain. Watch out for some severe weather this weekend in the Ohio River Valley area. Dryer weather is expected next week in Illinois.
Did you know: The name 'Chicago' is the French rendering of an American Indian word 'Shikaakwa' which roughly translates to 'wild onion'.
Good night and good luck,
Nathaniel Dubravec
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