Wake Up Call Allendale Advisory Center: Grain markets are mixed with soybean futures leading the decline. Overnight volume was very light. Outside markets quiet before the storm of reports at 7:30.
Strong end-user buying continues to provide good support on breaks and farmer selling is at a standstill at these levels. This stand-off is keeping the grain markets in a trading range with light volume. Processors and end-users continue to raise basis bids to entice sellers, however, a futures rally is needed to move grain. With harvest complete in most areas, farmers have found storage for the crop and yearend tax adjusting will determine further sales pace over the next few weeks.