Shortened trading week for Thanksgiving
With a holiday week upon us, the grain markets will have a shortened trading week.
There is a full day of trading Wednesday heading into Thanksgiving with no markets on Thursday and trade resuming at 8:30 a.m. Friday for a shortened session in the morning.
The old saying is that the bears get Thanksgiving and the bulls can have Christmas and some believe this usually holds true.
Curt Kimmel with Ag Market.net told The Central Illinois Farm Network late last week that the markets continue to be sensitive waiting for news as ethanol plants and feedlots need corn. We are starting to see firmer bids in the east.
If pricing grain, Kimmel urges growers to remain cautious especially after the first of December. He feels the next best grain marketing opportunity could come in the next couple of weeks. After that, South America could get rain and producers will be moving more grain after the first of the year.
“It could be a little more sloppy after then,” Kimmel said.
According to Kimmel, there are some re-ownership options into next spring. When it comes to the stock market, investor confidence is a bit better.
The fall season has gone fast but farmers have been taking advantage of the great weather conditions, getting anhydrous on at the last minute. Many are hopeful for moisture this winter as the Western Corn Belt is still dry and the Mississippi River has lacked moisture, although they are starting to load barges a bit heavier now.