09/24/2024 Harvest Progress, Storage Decisions

On the Grains
Shockingly stable is what I will call the overnight trade after yesterday’s impressive rally, we have been able to hold the bulk of those gains. Does this corn market have the gusto to test the 100 DMA at $4.32 December? Time will tell, what I do know is that the phones were busy yesterday with producers paying attention to what was taking place in Chicago. While the conversations were related mostly to beans, plenty of calls were on where we needed to target orders on corn were also fielded as well- more on that later. It feels like we’re close to another wave of selling for both commodities.