There appears to be no pause in the administration’s suggested energy ceasefire, Ukraine and Russia continuing to exchange attacks. That, along with attacks in Saudi Arabia keeping a lot of support under the crude oil market and slowly pushing that VIX or fear index closer to 18-19, the highest it’s been in over a month. The soybean harvest wrapping up in areas that missed recent rain, certainly not the case here.
Delays continue. $12.75 in November has been a number to watch, but $12.69 is actually a 50-day average that is more important in our view. This is the bottom-line report.
December corn trying to build support above the $4.70 level after last week’s crop report, and so far, so good. That’s our bottom-line.
Audio Reporting by Mark Oppold for Southeast AgNet.