Corn ticked up a point to 68% good to excellent and beans did the same at 65%.Β
Both corn and soybeans are still running below year ago levels, 6 and 5 points respectively, heading into the teeth of pollination. Spring wheat held at 58%. The winter wheat story is closing out and the market already priced in that disaster.
December corn settled today at 463.00, above the 50 day at 449 and the 200 day at 442, with RSI cooling to 71.6. November beans at 1193.50 are sitting just under the January high near 1223 with RSI at 69. CBOT wheat pushed to 635.25 and cleared its 50 day at 618. A close above 465 in corn opens the door to the 52 week high near 486, while the 50 day at 449 is first support on a pullback.
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