Weekend Deliveries

700,000 bushels of wheat were delivered out of Toledo via ADM with a date of November 23 and 69 contracts of corn came out with a date of June 28.....................Is that why we were open yesterday? At least we know the cost of respect and integrity given 3 days of storage income and knowing that salaried employees are paid regardless of days of mourning........................................ Open interest is down to zilch so whomever is left in the December contracts knows what they're doing................As for the rest of the months it appears as though the jockeying for trade negotiation edges might keep all markets on the defensive..........The trade is relying on the narrative that we need a pact with China to help out soybean exports and given the arrests and rhetoric overnight a long term agreement looks less likely in the truce time of the next 3 months................................South American weather still appears conducive for crop development..........................Looks like another rim leak type of day.

The information contained on this site is the opinion of the writer and obtained from sources cited

within the commentary. The impact on market prices due to seasonal or market cycles and current news events may already be reflected in current market prices.

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Steve Bruce


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