AFB Grain-Soybean Close: Soybeans Lead Markets Lower
Soybeans posted sharp losses across the board. Basis levels have fallen sharply this week, and that has resulted in weakness in futures. Weaker export business and increase farmer contracting has resulted in the wider basis. USDA says that 64% of the crop is in good to excellent condition. Forecasts for cooler, wetter weather in the mid-west this week, though, are expected to improve growing conditions. November has support at $12.52 and $12.28.
Wheat and Corn Comments Unavailable Today
|Cash Bids||Stuttgart: – – –||Pendleton: – – –|
|New Crop||Stuttgart: 1260||Pendleton: 1280|
Tags: Sorghum prices
The ICE Dec and Mar contracts gave back 160 and 87 points on the week, respectively, as last week’s inversion between the two contracts gave way to partial carry. Well,