THE OPEN

Jan beans: 2 1/4 lower Dec meal: .80 lower Dec soyoil: 1 lower Dec corn: 1 1/2 lower Dec wheat: 1/2 higher

The markets opened as expected with funds ready to sell on the opening rally. Major features of trade were that of buy soyoil/sell meal, and buy corn/sell wheat. Farmers continue to harvest in the last of the crops in the field, and are waiting for better levels at which to sell it. Today's trade turned very technical, as a short-covering open from the PM session resulted in weaker values, particularly for beans. Chatter around the industry is that the “phase one” U.S.-China trade deal will include beans and wheat, but perhaps not corn, which is leading to buy beans and wheat trade/sell corn over an exten...