The grains fought hard amid continued European debt fears, with December corn and wheat finishing just barely positive and November soybeans down a substantial 17 cents to 1253. Many are asking if we are getting close to a "risk on" type of environment. With the G20 meeting happening this week, I am hearing that officials from all over the world are putting pressure on Europe to immediately find a solution and plan for its problems. If it can come up with a comprehensive plan, maybe we can get this ordeal behind us and move on...but that is still a big MAYBE. We have many other unanswered questions that must be taken care of as well: China’s slowing growth, the stability of the Japanese economy, U.S. debt and employment concerns, etc. These things are all indications as to whether or not we can again put some "risk on" and move prices higher in the grain and livestock markets.
Corn Holds Support despite Outside Market Weakness
Crop Progress: Corn Harvest Ahead of Schedule