Current Markets as of 8:25 Tuesday, November 20, 2018
Month High Low Change Last
Dec 18 Corn $3.63 ½ $3.62 ¼ $ + ½ $3.62 ¾
Dec 19 Corn $3.97 $3.96 $ + ¼ $3.96 ½
Jan 19 Beans $8.77 ¾ $8.70 ½ $ + 2 ¾ $8.76 ½
Nov 19 Beans $9.25 $9.19 ¾ $ + 3 $9.25
Oil $56. Lower Gold $1,226 Higher Dow $24,640 Lower Wheat $4.99 Mixed
A Holiday shortened week as grain markets will be closed Wednesday night and Thursday, November 22nd in observance of Thanksgiving. Markets will re-open at 8:30am on Friday, November 23rd and will close early at 12:05/12:15pm CST.
The Des Moines ethanol low rack price is $1.60. This is $0.1647 lower than the unleaded gas low price of $1.7647.
The grain markets are mostly quiet following yesterday’s sharp sell-off in the soybean market. World equities continue to sink on the fear of slowing demand for tech products
Mexico has authorized 26 Brazilian meat plants to export chicken products into the country as the two nations strengthen ties with trade partnership opportunities. The US is Mexico’s largest chicken supplier, selling 675,653 tonnes last year which compares to Brazil having sold 95,500 tonnes.
Corn Support is $3.60 and resistance is $3.78. Beans Support is $8.63 and resistance is $9.06. Funds sold 25 Million (5,000 Contracts) of corn and sold 60 Million (12,000) contracts of beans Monday. Just over 97,000 contracts traded last night.
Weather: The weather outlook remains similar for much of South America with the EU 10-day model suggesting an additional 3-7” of rainfall for Mato Grosso, Mato Grosso do Sul and Goias. Argentine weather remains mostly conducive for crop development
EARLY MARKET FEATURES
Corn – Steady to ½ cent better
Beans – Steady/better and the US/China remain without a trade deal
Have a great Tuesday! Darren, Brady and David
Gold-Eagle Cooperative Providing Quality Services and Products Innovatively, Profitably, and Professionally.