The week started with risk-off trade with weakness in the soy complex and corn. Beneficial moisture was noted in Argentina and southern Brazil over the weekend and Monday. The forecast ahead has those areas with 10 days of little moisture and warming temperatures. Following last week’s steady selloff, the winter wheat markets bounced slightly Monday, while Minneapolis fell.
GENERAL COMMENTS:
December corn closed down 4 1/4 cents per bushel and March corn was down 5 cents. January soybeans closed down 23 3/4 cents and March soybeans were down 23 1/2 cents. March KC wheat closed up 7 cents, March Chicago wheat was up 3 1/2 cents and March Minneapolis wheat was down 4 1/4 cents.
The December U.S. Dollar Index is trading up 0.185 at 96.285. The Dow Jones Industrial Average is down 230.36 points at 35,740.63. February gold is up $3.30 at $1,788.10, March silver is up $0.14 at $22.34 and March copper is up $0.0065 at $4.2930. January crude oil is down $0.25 at $71.42, January heating oil is down $0.0139, January RBOB is down $0.0149 and January natural gas is down $0.114.
