Michelle Rook

Bryan Doherty, Total Farm Marketing, says March corn sees a chart breakout Friday above $4.35 and posts a higher weekly close, pricing in strong demand and lower expected ending stocks in Tuesday's WASDE.

Matt Bennett with AgMarket.Net says the agency shocked the market by lowering ending stocks on corn 200 million bu. to 1.738 billion bu., with an increase in demand.

Darren Frye, Water Street Solutions, says grains close higher after the WASDE and USDA's surprise cut in corn ending stocks by 200 million bushels.

Bryan Doherty, Total Farm Marketing, says corn ended lower on a combination of profit taking and farmer selling after running into chart resistance.

Oliver Sloup, Blue Line Futures, says corn saw continued technical selling and profit taking after the inability to take out chart resistance.

What's ahead for the grain prices the last few weeks of 2024? Rich Nelson with Allendale, Inc. says historical and seasonal tendencies are at play in the grain markets. However, South American weather will also be a focus.

Grain markets are seeing value and technical buying but Kent Beadle of Paradigm Futures says soybeans are supported by a rebound in the Brazilian Real.

Chip Nellinger, Blue Reef Agri-Marketing says soybeans recovered off Thursday's new contract lows on fund short covering and profit taking. However, he doesn't trust the rally.

Nearly half of all farm workers are undocumented, and industries like dairy and meatpacking plants are especially vulnerable to labor shortages.

Garrett Toay, AgTraderTalk, says corn made six month highs and finally closed above the 200 day moving average which has been tough chart resistance.