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Tidbits, Wheat Market, Export Sales, Markets & Rain Days Update 10/27/23


November Options Expire Today. It looks like the big specs (who write the calls you buy) want Dec corn to settle at $4.80, December CBOT wheat at $5.80, November beans at $12.80, December spring wheat at $7.20, and December KC wheat at $6.60. Get the option expiration out of the way for another month, maybe the market will trade the technical and fundamentals next week.

Eduardo Vanin, a cash trader in Brazil, made this comment yesterday morning:

"Alert: As I was writing I received news that Ukrainian officials have suspended the transit of ships in the corridor protected by military risks. They talk about increased activity by Russian fighters and the risk of an explosion. With this news, Brazil is once again the cheapest and most reliable source of corn."

Yesterday afternoon, CHS reported Ukrainian Deputy Prime Minister Kubrakov denied that the new Black Sea corridor had been suspended. Others think the closure is only for a day or two.

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