Good afternoon friends
Corn (H17) 362’0 +1’0
Soybeans (F17) 1023’6 -4’2
Chi Wheat (H17) 418’0 +’4
KC Wheat (H17) 420’0 +4’6
Cotton (H17) 71.47 -.57
It has been risk off since the Fed announcement at 1:00 central. Dec 17 cotton failed again at 70 cents, closing closer to 69 cents. The equity and energy markets have rolled over since the grain close, I would be ready for a softer open in soybeans. If today’s lows give way, I imagine stops get run below. I talk a lot more about the price action in the audio below:
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