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Monday, October 31, 2016

Wake Up Call Allendale Advisory Center

Wake Up Call Allendale Advisory Center: Good Morning! Paul Georgy with the early morning commentary for October 31, 2016

Grain markets are mixed as soybeans are getting support from export demand while wheat bounces due to large fund short position. The US Dollar recovers from FBI surprise announcement on Clinton email problems. Next week’s Presidential election has traders cautious about taking on new risk.

Corn harvest is expected to be near 75% complete this week versus 61% last week and 73% average. Soybean harvest should be near 85% complete versus 76% last week and 83% average. We will get USDA’s estimate at 3:00 pm today.