Market Update for Oct. 16, 2017Market Update for Oct. 16, 2017

Soybean prices are pulling back a little as there is profit taking. The bullish report Thursday fueled an increase in prices to profitable levels for most growers. He suggests growers consider pricing some 2018 crop.

China's Congress is meeting this week. It's not a democracy, but the ceremonial occasion is often the time when five-year plans are announced. The market will be watching to see if their soybean demand will continue.

South American weather - planting for Brazil overall is about average. Growers have been hoarding soybeans, but they could start selling.

Funds may be getting more bullish on commodities.