Grain > Commentary > 11-25-2020

11/25/2020

Nov 25, 2020

11/25/2020
Reminder:  Glacial Plains will be closed on Thursday and Friday, so make sure you get everything you need covered today.  There are no markets on Thursday, but there is a short day of trade on Friday until noon.  If you would like to get a sell order working for Friday's trade please call us today.  Today felt like typical holiday trade in the grain markets.  Very little new information and the market was a tad weaker on profit taking.  There was some chatter overnight about China buying more beans, which caused the March contract to put in a new high at 12.00.  Jan futures did not get back the highs, but instead fell 2 cents short at 11.98.  We instantly turned the market into red figures on the 8:30 open and traded down 4-7 cents the entire session on both corn and beans.  Monday is month end, which typically means we could see another round of profit taking as funds square up some of their positions.  The question then becomes, do we get that China sale announcement and does new money show up to start out December.  The volatility is going to continue, so keep those seat belts fastened.  Have a great Thanksgiving!  
 

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