Corn is 1 higher and soybeans are 8 lower to open the week. Rumors and harvest pressure continue to move the bean market lower. Last Thursday we saw soybeans make a move higher on rumors that China bought up to 15 cargos of beans from Argentina that would come indirectly from the US. This morning news that China has cancelled the upcoming tariff talks with the US. The US recently implemented 10% tariffs on $200 billion of Chinese goods which is expected to be retaliated with China putting tariffs on $60 billion of US goods.
Friday we will get a look at the USDA’s grain stocks report and small grain production summary. Funds continued to cover some of their short positions with open interest off nearly 14,500 contracts in corn, just over 4,700 in the beans and almost 2,100 of Chicago wheat to close out last week’s trading.
Didion is Hiring!
If you know someone that is looking for employment or a change let us know. If we end up hiring your referral you could get up to $1000! We have several different openings within our company, here are just a few of them:
Feed Sales Forklift Operator
Grain Merchandiser Marketing Communication Manager
Logistics Manager Biofuels Technician
Grain Facility Maintenance Technician Packaging Production Worker
Miller Safety Specialist
Have a Safe Day!