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Grain  10/16/18 9:40:20 PM


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Closing Grains October 16, 2018
Corn:
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
 
Soybeans:
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. 
 
Wheat:
December Chicago Futures Price $5.23 1/4 (- 1 1/2 cent)



 

 

 
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