Tuesday November 24, 2020
- Turn around Tuesday as beans test lower after failing to hold above the $12.00 futures level sparking some selling in the bean market
- Trump is also back in the headlines after reports of new actions against China
- In his final months in office Trump is looking to conduct an alliance of Western partners to stand up against the power of Chinese traders
- Another signal for the bean market to take some profits as any tension between China and the U.S. generally sparks some concern in the bean market
- U.S. crop conditions report
- Winter wheat crop fell 3 points this week in conditions to 43% good/excellent – still sitting well below average of 54% good/excellent going into the winter
- South American weather remains the same today – too dry to be comfortable for planting right into the start of December.