Grain Marketing Specialist
Ethanol numbers out this A.M.
Corn- Up 2 as of 7:45
September corn ended the day Tuesday down 15 ¼ cents, December ended down 14 ¾ cents, even with dry hot weather in the forecast it still wasn’t enough to pull corn out of its bearish slump. 4 month highs in the US dollar did not help corn out yesterday either. South Dakota corn crop areas may come under somewhat more stress this week due to hotter temperatures and less of a chance for showers.
Beans- Unchanged as of 7:45
Soybeans were down 34 ¼ cents in the August futures contract, and down 38 ½ in the November futures contract. The soybean market struggled as weather outlooks for August show more moderate temperatures than what was thought initially.
Wheat- Minneapolis Up 2 Kansas City Up 3 as of 7:45
Minneapolis Spring wheat closed the day Tuesday down a dime in the September futures contract. September Kansas City Winter Wheat closed the day down 9 ½ cents. Bearish pressure from losses in row crop markets and a higher dollar, is to blame for the loss Tuesday.