Friday’s USDA report wasn’t very exciting as the government did not make changes.
“It was pretty much just the same thing we had last time around,” explained Wayne Nelson of L&M Commodities on Friday afternoon.
We went right back to where prices were trading prior to the report.
“There’s just a little bit of fear of what the weather forecast in Argentina and South America is going to be when we come in on Sunday night.”
Next week’s trading depends mainly on what happens with South American weather moving forward. Many are waiting to see if the favorable showers in the 11-15 day weather outlook keep getting pushed back.
“We’re thinking $10 cash beans is a good place to start with your first 10-20 percent (of sales),” Nelson added.
L&M Commodities is located in New Market, Indiana and can be reached at 800-382-0986.