Corn was both up and down Monday after being in a 3-4 cent range and soybeans saw a wider trading range.
Prices are lower across the board, as there is nothing bullish to report so far, according to Pete Manhart with Bates Commodities in Normal.
“South America is still harvesting a crop that continues to get bigger and we are waiting on Friday’s USDA report on both stocks and acreage,” Manhart told The Central Illinois Farm Network Monday afternoon.
Manhart and others will be closely watching this week’s USDA report which is expected to show four million fewer acres of corn and four to five million more soybean acres.
“With the stocks, no one really knows what they’ll do with those,” Manhart added.
Bates Commodities can be reached at 800-779-1515.