Morning Market Insight
Grain Marketing Specialist
With temps rising have you checked your bins?? Let Wheat Growers check them for you with our bin probe truck!! Contact your local grain marketing specialist for details.
Corn as of 7:45- Down 2
Weather remains good for growing as flooded and wet acres probably can’t get much worse. Extended forecasts are showing above/much above normal temps but moisture is ample is most places. Funds sell 16,000 contracts in last two days. Funds now long 147,000 contracts.
Beans as of 7:45- Unchanged
Monday’s USDA acres report is quite important with an increase over intentions expected. Funds long 76,000 contracts. Cash markets still do not seem to reflect the tightness the USDA says we should be experiencing.
Wheat as if 7:45-MW Down 1 KC Down 2
Big world demand this week but the US has gotten very little of it. India’s monsoon moisture down 37%. Rain forcasted for areas harvesting wheat. Worldwide wheat values still sagging.