ABOUT GRAIN AGRONOMY PRECISION AG ENERGY FEED TIRES LUBE NEWS SAFETY LOCATIONS CAREERS RESOURCES CONTACT MYGROWER MARKET COMMENTARIES Morning Comments/Roy's (RJ O'Brien) Morning Grain Comments - November 24, 2021 Morning Grain Comments Tuesday November 24, 2021 December options expire at the close on FRIDAY. CORN: Corn is higher this morning with wheat market making new highs again. US ethanol prices rebounded yesterday with Dec ethanol swap making new highs. S. Korea firms booking up to 270k tons of option origin corn overnight for March arrival. Most of these cargoes will be out of S. America. Technically, if Dec corn can push above $5.86 on the weekly chart, it opens the door toward $6.20-6.30. US farmer selling is expected to accelerate as it approaches $6.00. Dec options expire Friday. Look for volatile trade with many traders off today & Friday. WHEAT: US wheat markets make new highs last night before pulling back this morning. Focus remains on the wet weather and declining quality in Australia. This week the Philippines booked 100k tons of feed wheat from Australia. KC protein premiums continue to firm for the 11's and 12's. While the wheat market is overdue for a corrective pullback, expect end users to be there on the break. SOY-COMPLEX: Soybeans and soy oil are higher this morning. Some Midwest processors started to roll their soymeal bids from the Dec to the Jan yesterday. Others holding under the Dec as the inverse hovers near +$6.50. Support for Dec soymeal now at $352 if it can't hold $360. Cash crush margins slipping toward $2.90 or less after being over $3.00 a bushel. Board crush also down over 25 cents/bu from its high at mid-month. January soybeans pushing toward $12.90-$13.00 resistance. 208 W Depot St, Dorchester, NE 68343 +1 402-946-2211 ABOUT GRAIN AGRONOMY PRECISION AG SAFETY ENERGY FEED TIRES LUBE NEWS LOCATIONS CAREERS RESOURCES CONTACT MYGROWER Privacy & Terms of Service | Site Map © 2020 Farmers Cooperative - Dorchester - All rights reserved