The grain complex continues to drift in a narrow range for the past month. Corn, Wheat, and Soybeans have been range bound since the October 12th USDA supply/demand and Crop Production reports were released. Volume has also dried up as traders are uncertain of the overall price trend in the markets.

This past week was no different, as all grains within the complex traded in a sideways direction. Traders are patiently waiting for the upcoming USDA supply/demand and Crop Production to see if the fundamental news will spark a trend formation. December Corn traded in an inside weekly range (traded within last week’s high and low price) ending the week up 3 ticks from last week at 6.5575 per bushel. December Wheat traded slightly below prior week’s low, and settled the week down slightly at 6.3675 per bushel. January Soybean futures were the active grain in the complex as they were able to trade below past the past weeks support levels.

With the weekly breakouts on Soybeans, they only settled slightly down at 12.21 per bushel. The USDA will release their supply/demand numbers on the morning of November 9th along with the Crop Production report.

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