Good morning!
It is a very quiet start to the news day this
morning. There was some export business done overnight in wheat, which
has that market a little firmer this morning which could lend support to
corn.
The corn and soybean trade is watching/waiting for
new news on the Mississippi River. Currently the plan is for the river
to be shutdown due to low water levels starting December 10th. Because
of this you have river terminals running
as hard trying to ship as much as they can prior to that. The Army
Corps of Engineers is under the gun trying to come up with a way to
prevent the shutdown of the river but it doesn’t seem likely. It is
somewhat of a wildcard as to what happens if/when it
does close. It could be friendly to central IA basis as the gulf may
need to replace barge purchases with rail.
Currently:
Corn is steady
Soybeans are down 2 to 4 cents
Have a great day!
Dustin Weiner
@fccoopgrain
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