Evening Grain Report - 10/30/12

Screencapture from 5:02 PM Central Time

Equity futures are drifting higher this evening with expectations for both the NYSE and NASDAQ to be open for business tomorrow. The grain market will stay focused on South American planting progress for the remainder of the week, with continuing issues lending support to the corn and soy markets. Technically we are looking for the 100 day moving average to provide resistance to the January soybean contract and support to the December corn contract. Overall, many traders are looking for a sideways market into the November 9 USDA reports but don't be surprised by big moves, especially with next Tuesday's US Elections.

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