12/13/2024 Friday the 13th-Minnesota Approves Pipeline

On the Grains
Good morning, now this overnight market is more like what we are used to, minimal action as the euphoria of Tuesday’s report has worn off. March corn continues to struggle at $4.50 and we need to find a way to break that open to the topside. Today would be ideal and we would have a good-looking weekly chart also. Prices remain range bound and with such a big cut in carryout the burden of continuing to feed the bulls will move to South American weather, and that just hasn’t proven to be an issue yet. Argentina’s corn planting is sitting at 66% complete vs. 54% last week and 62% on the 5-year average.