After a week that began with the risk of it being very volatile in the marketplace, the ag markets are ready to settle down into the weekend. On Monday, the concern was that the midterm elections, the WASDE report, and the Consumer Price Index for October would send the markets on a roller coaster ride. While the markets did react, they weren’t as crazy as many had worried.
Thursday may have been the exception when we saw corn and soybeans lose double-digits on the day. However, as the overnight and early morning trade got going, we saw them gain that back in soybeans, and then some. Corn was a little quieter. AgMarket.Net’s Matt Bennett says that it may just have been too much negative movement. More than what was really necessary.
Export numbers came out as always during the week, and soybean numbers looked okay, helped by a couple of days of sales announced to China. On the other hand, Bennett says corn needs to pick it up.
Most of Iowa has finished the harvest, but there are still pockets here and there around the upper Midwest. Bennett talks about what he has been hearing coming out of some of those late-season fields. Some of the reports are better than what was expected.
That was Matt Bennett of AgMarket.Net