Market Analysis
Europe’s financial problems and weak jobs data take down corn, soybeans and wheat.
Soybeans seem to be stealing the limelight from corn, but it’s an easy thing to do when corn has been trading sideways for several months.
Higher-than-previously expected rice stocks results in a 5.0- million-cwt reduction in all rice 2012/13 domestic and residual use.
Advocates: Hemp could again dominate Pennsylvania fields
The USDA Crop Progress released Monday afternoon shows farmers made some gains on last week’s harvest delays.
See all of the report data, coverage and analysis of USDA’s Oct. 10 World Agricultural Supply and Demand Estimates (WASDE) and Crop Production reports.
The corn and wheat markets saw a weaker trade for the week as May corn closed nearly $.30 lower, while the wheat market slipped $.15 lower.
Corn prices jumped Friday on rumors that China had taken advantage of a recent price break to secure U.S. corn.
December 12 Corn closed .38 ¾ lower for the week with little explanation.
As harvest is winding down, it is important to have a plan in place to take advantage of any post-harvest rally conditions.