Afternoon comments 10.10.19
Dec corn 380 1/4 dn 14 | Nov beans 923 1/2 dn 1/4
Volatile day with USDA report at 11a today which surprised the corn market with its larger than expected ending stocks number of 1.92 billion bu. vs the expected 1.68 billion bu. On the soybean side the USDA's numbers were more friendly with ending stocks at 460 million bu. vs the expected 496 million bu. Also, on the positive side was another soybean sale to China for 398,000 tons. Though there was positive news for the soybeans, it appears as though they were captured by the negativity in the corn, pushing them to just under unchanged on the day. In addition to the negative influence from corn, there were conflicting reports on the progress of the US/China talks which also may have added to the negativity in the soybean market.