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.