The Tuesday HOT TAKE

November 7

What’s HOT

Although Jan beans couldn’t hold their gains into the close, they remain hot, trading up to a $13.80 today - 80 cents off of last Tuesday’s $13.00 low. Jan settled at $13.62 today.

What’s also hot is the Brazilian real whose 3.4% rally in the last week has wiped out 70% of January’s 62-cent gain during that same time.

Ouch!

The U.S. winter wheat crop is rated 50% good/excellent, up from 47% last week and compared with 30% last year.