Corn: For corn, the five-year, 15-year and 30-year trendlines all suggest a pullback going into the beginning of the month with a bounce going all the way into the January report. It is worth mentioning that the five-year trend shows a much faster rally during December but also a much larger correction shortly after seeing the January report numbers.
For now, the bears can still defend resistance levels well and bulls should not chase this rally, as it might be a little too early. Each side should have at least one more shot at getting a position on, with bears selling at resistance through this week and bulls buying longer term on the next dip going into early December…Ryan Ettner
Soybeans: The weekly export inspections were disappointing, coming in at 45.498 million bushels. This was down from last week’s 66.840 million bushels export number. With the weather situation in Brazil looking good, we are not in a hurry to chase the market higher. However, with potential problems building in Argentina, we would look to buy on setbacks. If Argentina weather takes a further turn for the worse the market could rally rather quickly…Jim McCormick
Wheat: Long-term NOAA forecasts are suggesting warmer temps and normal precipitation through spring. This, mixed with a winter that is expected to be warmer than normal could leave the crop with little moisture coming out of dormancy…Cordon Sroka