Today’s Prices

Grain markets finished mixed today, corn and soybean finding support bouncing back from the early week losses.

Weekly Price Summary

Grain Market News

Corn Production

Soybean Production

S.A. High Temperatures

The drought in Argentina is still ongoing and crops are late due to late planting.

Additional heat with temperatures in the 90s to low 100s yesterday.

Additional crop losses are still possible in Argentina while Brazil continues to see favorable weather.

Grain Market News

24-Hour Observed Precipitation            

Over the last 24 hours down into the central Mississippi valley, northern Delta region, and southern Ohio valley there has been 1-3 inches of rain with 2-4 inches in some areas.

Rivers in Flood Stage

Many rivers in the eastern belt, Ohio valley, and Mississippi River valley in flood stage.

U.S. Radar

We still have a lot of steady or heavy rain across the eastern belt into the Ohio valley.

At this point the rains are starting to become unwelcome.

Grain Market News

March Corn Chart

Corn prices made a spike low on Wednesday at 6.22 and then had a reversal on Wednesday.

There was follow through yesterday and today with todays high at 6.42 a new high for the move.

The rally off the low does have the chart and technical looking much better.

Overhead resistance at the 6.48 range.

March Soybean Chart

Soybean prices also reversing to the upside following the lows earlier this week.

Technical indicators looking much better.

Soybeans have already achieved initial overhead resistance.

March KC Wheat Chart

Wheat prices not exploding to the upside but showing signs of some bottoming action.

Wheat closing at 8.16.

Even though the market isn’t exploding to the upside, this is no place to be making sales.

Questions or Comments