Corn opened down one and Soybeans down two, after the holiday trade break. CZ18 option expiration happens today. Beyond that, any news on US and China trade would be positive for the market.
Argentina is still anticipating a 43 million tonnes harvest, this runs consistent with previous estimates. On the other hand in South America, Brazil is having their best ever start to the crop year, estimating a soybean harvest of 129 million tonnes.
Make sure to have offers and targets in place, now that harvest is starting to wrap up, we need to watch opportunities to get the 2018 crop marketed. Some levels to note: February $3.50, May $3.58, July $3.66.
Have a Great Weekend!