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Supply and demand does not dictate the prices for grains such as corn, wheat and wheat.
Aside from cocoa, the soybean and soybean meal market also experienced a decrease last week.
Kansas is the leading winter wheat producer in America this year, with Washington and Oklahoma following it.
The October WASDE/Crop Production has come and passed and again offered a few changes by the USDA.
Heading into the WASDE for October 2017, the corn ending stocks are approximal at about 2.289 billion bushels.
All positives for the corn market and not so much for soybeans.
Is there a great enough incentive for a repeat of more acres like last year?
If the recent trend continues with managed money trimming soybeans and adding to corn, the market spreads could quickly begin to narrow back to “more normal”...