Daily ranges have started to narrow as market participants search for new news. Market participants will continue to keep a close eye on weather as cooler temps work through the Midwest. The risk of an early frost still lingers in the back of our minds.
Friendly start to the Pro Farmer crop tour. The weekly crop progress report was released yesterday afternoon, showing the U.S. corn conditions at 56% Good/Excellent, down 1% from the previous week and 2% below expectations.
November soybean futures tried to gain ground early last week but failed to attract new buyers near the psychologically significant $9.00 handle. We saw several headlines that had a positive spin, all of which were sold into.