December 1st !?

So far this week, corn is off a couple of cents and soybeans are basically unchanged.

Weather stress is rebuilding in N Brazil, but market is watching forecasted rains this weekend and in the 11-15.

Is there a pattern change to start December and if that is the case there will be some serious pressure on soybeans.

We still could get a boost for corn longer term with lost acreage for the 2nd crop corn in Brazil.

Weekly exports were strong across the board yesterday morning.

Support and resistance

4.72 & 13.26 for support

4.84 & 13.52 for resistance

Bottomline

We had some tough trade going into First Notice Day for corn and traded down below 4.50. Will we let some of the pressure off the corn market and move higher or will the funds press their shorts and get March to trade down to 4.60? Soybeans will be watching Brazil weather the next 2 weeks, but we would sell Nov beans at 13.00-13.10. NFC Grain Comments Options -12.1.23 (1)