Mixed Day in Grain Market 1-11

11 Jan in Blog

Grain Futures—Soybean futures finished sharply lower today on beneficial South American rains and lower temperatures as well. Soybeans for March delivery closed around 12.02 a bushel closing right near its low for the day. Corn futures were not as weak today due to the carry over which is still very low historically finished the day slightly higher at 6.53 a bushel. Wheat futures also rallied modestly to finish 2 cents higher at 6.42 a bushel in a lack luster trade today. I still think that the trend is higher in the grain market and buying dips could beneficial in the long term. The weather situation could still become dry again which would send prices even higher due to more production cuts in Brazil.

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