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Market Overview

Corn Surges Again; Beans/Wheat Mixed

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Corn finished the pre-market session higher by 41.5c (+5.99%) this morning to 734 ¾. Beans are down 5c to 1405 ¼. Wheat is up fractionally (+0.25c) to 763 ½.

Corn is continuing its surge caused by the bullish inventory numbers in yesterday's USDA Grain Stocks report. Wheat and Beans followed corn higher yesterday, but they look to have priced in the bullish report today and could trade sideways or lower.

The outside markets are mixed with the euro down 100 points, crude up $0.25/barrel, gold -$18/oz, and S&P Futures up 8 points.

 

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