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Grain markets took a corrective breather to start the final week of December after a sharp prior-day rally, with corn, soybeans and wheat slightly lower. Corn was sitting at six-month highs while soybeans traded near a long-term downtrend line, and holiday trading kept headline flow thin.
Analysts expected the weekly export sales report for the week ending December 19 to show solid corn, soybean and wheat sales.
Corn holding above old resistance would signal a sustained move higher, raising feed costs for buyers, while a rollover back into the post-harvest range would ease pressure. Strong export sales expectations support near-term demand for corn and soybeans.
coopfe.comWayne KollisDec 27, 2024Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
