Group Think

The Western Half of the Heartland is expected to be cooler and wetter than normal while the eastern half is anticipated to be warmer and wetter than normal....It might be taken as a little supportive to corn and wheat as corn plantings might not occur and we're approaching that time of the year when too much moisture/humidity leads to disease issues with wheat. Funds have lightened up on shorts as we've seen a 10% rally in corn this week and producers aren't all that excited to sell new crop production until a $4 handle happens as a lot is still in the seed sack and what's in the ground doesn't look so hot, right now! Trade deal? Who knows if and when yet, it appears that the media is trying to turn the agricultural community against the present administration trying to color all the ills to decisions made in the last two years. Swine flu in China, excellent South American production, potential for great crops in Europe and Asia appear to be shunned as reasons for the price slide in grains since last summer. Basis levels are still suggesting that corn and bean spreads may have limited strengthening opportunity. Wheat spread direction might be looking at the quality of the new crop for direction.

The information contained on this site is the opinion of the writer and obtained from sources cited within the commentary. The impact on market prices due to seasonal or market cycles and current news events may already be reflected in current market prices.

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Steve Bruce

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