Corn finished higher while soybeans did not on Thursday. The Chinese buying spree
is very supportive for new crop corn while soybean news is quiet as basis for
crushers has backed off a little and Brazil has plenty of exportable stocks. Speaking
of Brazil more analysts are moving their Brazilian corn estimates to the lower 90’s
MMT which I said yesterday will tighten up exportable corn in the 4th quarter. We
had some selling overnight and there was no export sale to China to end the week.
We will see if traders want to own these markets going into the weekend. See report for more information on outlooks, technicals, and weather updates.
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