Good morning! Happy Veterans day and thank you for all your service protecting our freedoms! Corn, soybean and wheat markets are lower to start the week.
Harvest was steaming ahead over the weekend. USDA reports will be delayed a day this week as government offices are closed today.
Fresh news remains lacking again this AM as a little spill over direction from Friday’s report and no supportive updates out of the trade negotiations. We continue to hear that talks are on going but nothing confirming large increases in sales or a deal to be signed, has added the pressure to the markets.
Expecting a thin and choppy session to remain throughout the day.
Have a great and safe day! Stay warm!
Corn: 9 ¾ carry.
Soybeans: 12 ¾ carry.
-CZ support at 368 ¼ to 371. Resistance at 384/391 ¾, then the 100-day MA at 398.
-CH support drops to 380 ¾, then 378. Resistance 390 ¾, then 395-400.
-SF support at 920 ½ which is the 50 & 200 day MA, then the 100-day MA 913 ¾. Resistance at 940, then 959 ½.