Agriculture

Although we turned the calendar to a new year, most of our market stories have remained the same.
The grain complex has been extremely volatile over the last 4-6 months, with soybeans rallying over $4.50 and corn $1.60.
As we near the end of 2020, analysts start to dissect and predict certain possibilities in the new year.
The soybean market has lost momentum. The market hasn’t been able to trade and close above the key level of $12.00, even with all the bullish news of Chinese demand, tightening stocks, and drought conditions in Brazil.
As news broke that Europe would be easing its Covid-19 restrictions in certain areas, the hope that cocoa demand would rise has supported the market this week.
Traders have been concerned about demand for cocoa all year but as we enter “chocolate season” we see that even chocolate/candy purchases have been affected by Covid-19.
The U.S. Presidential election has the global markets on edge. Waiting for the results next week will be sure to add movement in commodities.
As the world, especially in the United States, sees an increase in Covid-19 cases some commodity prices are weakening.
Grain markets as a whole are still digesting last week’s USDA update.
Traders have been concerned about demand for cocoa all year but as we enter “chocolate season” we see that even chocolate/candy purchases have been affected by Covid-19.