It was quite a week for corn and beans. It seemed like numerous times each day corn and beans would get pushed lower. Buyers would show up under the market and we would rally back. By the close each day while maybe not on the highs there were not that far from the highs. You would look at the charts and say it was not a great day but still an okay day as we worked higher. There was pretty good volume each day too even with Christmas on Friday.

Typically the market action gets really quiet the closer you get to a major holiday. However, this year is different as there are a number of bullish factors that the market needs to account for. We have great domestic demand for corn and beans. In addition there is great export demand for soybeans and China has even bought a fair amount of U.S. corn. Plus, the huge wildcard is the weather in South America including their second crop corn that will not be planted for about another month.

 

Click on the link above and listen to Gordy talk about the market action last week including the weekly high contract close in both corn and beans!