Grain Marketing Specialist
Corn as of 6:30- 1 lower
Very little new news as this market wants to continue to drift lower as we edge closer to harvest. USDA will release new numbers next week. Will they adjust production??? A firm US $ and continued fears about the Chinese economy will weigh on this market. Technically my indicators are bearish with support at 3.57
Soybeans as of 6:30-1 higher
Moisture and Chinese economy are at the forefront. Forecast now working some rain into the 6-10 day which is being seen as beneficial to later beans. SA still seems to be the origin of choice. And with harvest around the corner in the western corn belt it appears that old premiums seem to be working their way out as bids work done to nc levels.
Wheat as of 6:30-1 higher
A firm US $ isn’t helping competitiveness as US harvest comes to an end and Canadian harvest fires up. Stats Canada releasing production estimates today. New lows again yesterday. I have support for spring wheat at 4.95 and 4.80