Prices of corn surrender some of their gains from Friday this morning on the CBoT soybeans. Analysts believe that it is profit-taking. The present report of the State of the USDA should bring new insights into the State of the fields in the Midwest of the United States.
The beans on Friday recorded their first weekly loss since 10 weeks and corn prices had risen six weeks in a row. Prices were supported by the weather conditions in South America, where there was recently some delivery problems. Could benefit exporters of the United States.
The State report for corn and soybeans in the United States was better than expected failed last week and more rainfall in the growing areas pushing prices further. This afternoon is another report of the USDA.
For the other weather is crucial whether the La Nina weather phenomenon can undertake. It could bring heat and drought, and a bull market. For institutional investors have already secured a high inventory of long positions themselves.
