I wasn’t keeping an eye on the market at all today. I just about caught the pre-opening reports but other than that I didn’t see much. All in all, I don’t appear to have missed anything. The news this morning was about Paraguay and the expected good harvest there. Soybeans opened a little higher and traded in a fairly tight range, before closing -0.25. There was some news about another sale to China, but really it was just a quiet Monday.
The USDA released the weekly Crop Progress report as they do after the market closed and it wasn’t all that surprising. 12% of the crop has been harvested which is slightly below the expectations I’ve been reading. The crop condition improved some more and this will be an interesting factor in tomorrow’s movements.
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