FOR FRIDAY: (9/23) Not much really happened on Thursday to give us many new clues but we should continue to stay below highs put in on Wednesday and at some point a harvest break will come. Usually the Sept. stocks report is not very important and can’t think that the trade will be sideways a week waiting for it.

Downpours and flash flooding were reported in parts of northern Iowa and southern Minnesota overnight and more rain is due there the next few days. Clear skies east of there likely had combines in the fields. The seven-day and 6- to 10-day forecasts are wet for Iowa and Minnesota. This still may be too small an area to worry about. Trade waiting now for COF reports and quarterly hog and pig report on Sept. 30 so not much action coming there. Cold storage on Friday after the close may also release pent up energy. (For details and recommendations see our full Timer.)

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