Beans are a bright spot
Soybeans continue to be a bright spot in the markets.
Beans are still seeing buying as they come into the market and were up at the close on Monday following the Thanksgiving holiday period.
“If you are looking to sell $10 beans for the new crop, I’d have my offers in,” said Merrill Crowley of Crowley Commodities in Watseka.
Crowley says a billion dollars left the world bond markets when Donald Trump was declared president-elect of the United States and that money is looking for a place in the commodity markets.
The upcoming Dec. 9 USDA report should be quiet if history is any indication but the Jan. 12 report could be a different story when stocks and supply and demand information is released.
“That is the second stocks report to see if we can kind of get a trend on what’s happening with our stocks and usage,” added Crowley.
This is typically the last time crop size is updated until September. Crowley says some are watching wet weather in Argentina and dry weather in Brazil but those aren’t big issues at the moment. Here at home, we may turn out colder than normal and we have a dry southeast.
Crowley Commodities can be reached at 815-432-2220.