July 20th 2012
Grain Marketing Specialist
Corn: As of 7:45- Sep 7 higher, Dec 14 higher
Heavy spreading noted yesterday, pushing Sep to all time highs leaving the Dec yet to break the $8 mark. No meaningful rain and hot temps for the near term forecast look to keep this market supported.
Soybeans: As of 7:45- 32 higher
Soybeans the leader yet again yesterday pushing nearby to past the $17 mark. Continued concerns about hot/dry weather affecting pod setting and filling. As you can see on the spot market chart below this could open us up to even more upside.
Wheat: As of 7:45- Winter 3 lower, Spring 1 higher
I feel like Bill Murray in Groundhogs Day, the same thing keeps happening day after day after day. Wheat is getting support from row crops and EU, FSU, and Australian production concerns.