Thursday November 28, 2024

• A favorable weather pattern across Brazil, Argentina and Paraguay for the next two weeks.  The looming record large South American soy crop adding pressure to the CBOT.
• The chart below shows price action for the spot CBOT Dec corn and Jan soybean contracts for the days before and after the Thanksgiving Holiday since 2000.
  • Average corn movement looks minor, soybean volatility marginally higher.
• The Canadian dollar dropped on Tuesday with Trump’s tariff announcement, firming basis values this week.