Soybeans Higher;Corn & Wheat Mixed

23 Feb in Blog, corn, oats, soybeans, wheat

Volatile day in the corn market today after trading on both sides of unchanged throughout the trading session finishing higher by 1 cent to close around 6.42 a bushel while wheat futures were lower all afternoon closing lower by 3 cents to close around 6.41 a bushel . Soybeans were very quiet today with a very small trading range finishing higher by only 4 cents in the May contract to close around 12.83 a bushel with the next resistance at contract highs of 12.92 a bushel which could be tested tomorrow. Oat futures continue to trade in a narrow range finishing around unchanged for the day while rough rice futures finished around unchanged as well. I am bullish the soybean complex and I think we will break through contract highs very soon and then retest last year’s high of around $14.50 a bushel. If you have any questions about hedging your crop please give me a call at 800-615-7649.

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