Markets are mixed this morning as we head into the weekend. Corn is currently up 4 while soybeans are down 2.
This past week has been a wild ride of ups and downs as old crop corn had a 80 cent trading range. Weekend rains and continuous changes in weather forecasts kept the markets lively. Tuesdays USDA report gave the corn market more bearish news as stocks climbed more than expected. This was followed up with more weather trading.
It is interesting to note that while Tuesdays Stocks report was bearish the markets, if you look at recent years, we are on the low side. The projected 1.4 billion bushel carryout would be the lowest since 2012/13.
Have a Safe Day!