Edwards Market Thoughts

11/30/20 8:00am

Corn market is slightly lower after trading higher overnight but found resistance toward $4.40 in the March.

CFTC weekly commitment of trader’s data delayed Friday will be out this afternoon. As of this morning, have Funds long 279K corn and 224K soybeans.

South American weather has something for everyone. Euro model slightly drier C. Sao Paulo in 1-5 day, while both models slightly wetter C. Cordoba; GFS slightly drier C. Brazil in 6-10 day & slightly wetter S. Argentina in 11-15 day.

Technically Jan soybeans continues to find resistance here at $12.00 with support at $11.78 and then $11.48.

Looked at years with a yield decline Oct to Nov and then the Nov final change. Strong tendency for corn yield to drop further after a Oct – Nov decline. Little more random with soybeans.




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Sioux Center, Iowa (51250)

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Humidity: 47% Pressure: 30.17 in. Hg
Wind: 7 mph From: South


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Siouxland Cash Bids
Name Delivery End Basis Cash Price Futures Price

View all cash prices...
Quotes retrieved on November 30, 2020, 01:40:25 PM CST
All grain prices are subject to change at any time.
Cash bids are based on 10-minute delayed futures prices, unless otherwise noted.
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Corn Coming Out of the Weekend with Losses -

Today is first notice day for December corn futures. The oldest long is dated July 2019! The national average basis from cmdtyView is -0.14 with a 7

Cotton Dropping Lower at Midday -

Monday trading through midday has front month cotton futures dropping 61 to 93 points. There were 12 more deliveries against Dec futures issued,

Hogs Rally Out of Weekend -

Following the Friday pullback, lean hog futures look to extend last week’s rally with triple digit gains at midday. The CME Lean Hog Index for Nov

Beans Offer Cyber Monday Deals -

Soybeans are trading with double digit losses at midday. Futures are 1.11% to 1.34% lower. Soybean meal is down $1.40 to $2.60/ton. Soybean oil

Cattle Market Pulls Back on Monday -

Fat cattle futures are trading in the red so far with 17 to 47 cent Monday givebacks. Feeder cattle are also on the slide, giving back 22 to 50

Wheat Down Double Digits -

Today is First Notice Day against December wheat futures. The national average cash prices from cmdtyView are $5.60/bu (SRW), $5.14/bu (HRW), and

Full commentary...

The CME Group Intercontinental Exchange