~~Grain markets mixed on Black Friday
Weather is beginning to look more like fall and winter with a forecast for rain throughout much of the Midwest and a cold front to follow. Here in Indiana, we’ve had a warm fall with Thanksgiving being close to 70 degrees. The grain markets closed mixed with corn and wheat down 6 to 7, while soybeans were down only 1½. Look for the grain markets to continue in a sideways trading band during the month of December. It will take some form of news to move the market in either direction. The Dollar index closed above $1. This is bearish and continued strength could drive grain prices lower.
It is our assumption with the potential good harvest in South America, corn and soybeans have more downside price potential. One should be thinking of pricing a portion of their 2016 soybean production prior to the South American harvest. Now is when producers should be discussing 2016 strategies with their respective broker. If you have questions and would like to discuss 2016 marketing strategies, call Bob or Laura (1-800-832-1488). If you have questions, we welcome emails to [email protected] or [email protected].
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