9.24.19
Dec corn up 1 1/2 @ 374 3/4 | Nov beans up 1 3/4 @ 894 1/4
Corn traded a bit higher today after opening about 2 cents lower, mainly on updated weather maps that showed temps below normal beginning late next week. Corn conditions from Monday's report showed G/E up 2% from last week with just 29% of the crop mature. It is estimated that the funds bought about 2400 contracts today and remain roughly short 164,000 contracts.
Beans opened 4 cents better and traded to the high of the day (899 SX) immediately after only to chop around and end the day marginally higher. The strength in beans is carried over from friendly news that China booked some 20 cargos (1.2 mmt) while temporarily granting some tarrif exceptions for the import of upwards of 2-3 mmt from the US. The funds bought an estimated 3600 contracts by mid-day today.