THE OPEN November beans: 1/2 higher December meal: .90 lower December soyoil: 20 higher December corn: 2 1/2 lower September wheat: 2 1/2 higher The markets opened as expected with corn values remaining defensive while beans and soyoil held gains better. Wheat prices triggered buy-stops on lower world production, (lower Black Sea and now problems out of Argentina), combined with rising world premiums. More buy wheat/sell corn spread surfaced along with buy soyoil/sell meal trade. Beans worked higher, but was definitely a follower of stronger wheat, which was the trade of the day. SOY
The feature in the soy complex continued to be about stronger oilshare values...