#543 - "Thanksgiving Week Markets" Weekly Market Outlook: Nov. 20-24th

The Ag View Pitch

Ryan Moe with Stone X visits with Chris in this week’s market outlook.

Producers in the east, continue harvesting high yields, high moistures, and running out of space.

Producers in the west, have shut the Bin doors and are struggling with what to do with unsold bushels.

Ryan expects the Funds to have very limited and light trade in the upcoming week, and possibly as we head toward the end of the year as many traders are exiting commodity positions for the time being.

Ryan goes on to explain the fact that end-users have plenty of grain, but do not have the ownership. Capturing strong basis levels as we move forward in time now may become more of a challenge, especially in the east.

Some pricing opportunities could possibly arise if we see continued weather issues in South America. However, Ryan points out the fact that there is such a massive production area in South America now that short term rallies in the market are opportunities to continue selling both old crop and 2024 crop.

Thanksgiving is this week and it’s the time to reflect on the past year and the upcoming year.

We are so blessed in agriculture that: “We get to do what we love.” Be sure to take some time with family and talk about your blessings and what you are thankful for.