Tidbits, Pre-hedge & Weather, Retail Inflation, Crush & Oils, Export Sales 10/30/26
Tidbits
Today is the last business day of the week and the month. It would be reasonable to expect fund managers would want to lock-in some profits. Given how sharp the declines were this month, profits would be locked-in by the fund managers by short covering (buying futures contracts to offset their sold positions at much higher prices).
Give some thought to how much corn might be moving to town over the weekend to assess how much pre-hedging there might be this afternoon.
The next 3 days’ weather is dry for the Corn Belt to help with the harvest. The National Weather Service 5-7 day forecast sees rainfall likely to continue in the High Plains, with 2 to 4 inches forecast in portions of Colorado, potentially stretching into north Texas as well. Meanwhile, the eastern U.S. is expected to continue to see dry conditions ahead. Temperatures are forecast to remain 5 to 10 degrees above normal for the time of year, with the sharpest deviations from normal being centered around the southern Great Lakes region.
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