Corn harvest was about ninety percent done and the soybean harvest was about eighty percent done now.

In the beginning of the week of 15^th to 19^th October, the grain markets dropped. Better than predicted soybean yields and favorable South American planting weather explained for this early week slip. However, in the last few days, South American weather became dry, which is not conducive to germinate the seeds. Hence, the soybean rose later in the week.

The reduction in corn prices early in the week halted because farmers’ selling slowed. Farmer began to store the crops as they predict that the prices are going to go high in the near future.

http://www.agweb.com/article/price_rallies_likely_as_rationing_continues/

In addition, on Friday (19^th October), private analytics firm Informa Economics released its 2013 US Acreage Update. Informa stated that farmers would be able to plant more corn, soybeans and wheat in 2013 in relation to 2012 due to land acreage being available from the Conservation Reserve Program.

http://www.agweb.com/article/rally_time_for_old-crop_prices/

However, I feel that this piece of news may have negligible impact on crop prices because the firm only made a little adjustment to its previous-month forecasts and the numbers are still long from being final.

Hence, I believe that the market next week will have little fluctuation and close speculation of the market is needed to know what to buy and sell.