Grain  10/16/18 9:40:20 PM

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Closing Grains October 16, 2018
December Futures Price $3.75 1/4 (-3 cents)
December corn futures declined 3 cents Tuesday to $3.75 1/4 per bushel/  Corn harvest advanced 5 percent from the previous week to 39 percent complete according to Monday’s weekly Crop Progress report. .  After an advanced start the harvest is now just 4 percent ahead of last year.  Wet weather has kept harvesters out of fields, and some areas continue to be delayed.  Condition of corn was unchanged from the previous week
November Futures Price $8.84 3/4 (-6 3/4 cents)
Soybean futures gave back a portion of the previous days large gain with November ending 6 3/4 cents lower at $8.84 3/4 per bushel.  Mondays large jump was likely overdone and todays decline was corrective trade.  USDA’s weekly Crop Progress report showed soybean harvest fell behind last year and the 5-year average as weather delays hampered progress.  U.S. harvest was 38 percent complete as of Sunday, which compares to 47 percent last year and 53 percent for the 5-year average. 
December Chicago Futures Price $5.23 1/4 (- 1 1/2 cent)



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