Even with a holiday-shortened week, there are still items to discuss. Also, an update on Tom’s challenge from our May 1st episode, including his debut performance on the piano.

You can refer back to the May 1st "Tom's Take" piano challenge here: https://www.podbean.com/eu/pb-ejyek-db191b

Despite new measures being put in place across the country, grain markets rallied again this week.

On Tuesday, the USDA reduced ending stocks for both corn and soybeans. This led to some significantly higher prices for both.

While we continue to wait for final election results, NEXT Tuesday’s WASDE may have more of an impact on grain prices.

Even though corn and soybeans dropped more than 20 cents this week, we have many reasons to be optimistic as this week comes to a close. 

This week, both corn and soybean prices moved higher, and closing near the high for the week. We also discuss higher volatility and what you can do to take advantage of it.

Despite the sell-off at the end of today's session, December corn futures remained above $4, and January soybean futures remained above $10.50. Tom's Take discusses the performance of the 2020 averaging contracts. 

The USDA released their latest WASDE today. A significant decrease in 2020/21 ending stocks for beans as well as some changes to planted acres for corn were the highlights. We also have a bonus segment this week regarding grazing cattle on corn stalks in the derecho and drought-impacted areas of Iowa.

Wednesday's USDA Quarterly Stocks report pushed prices higher for 2 days. But, with news of COVID-19 in the White House, markets retreated on Friday. 

Even with the lower prices this week, there are many reasons to be optimistic about a rebound.