Willing to buy key support on wheat

FOR THURSDAY: (10/6) Not sure we learned too much on Wednesday except people are willing to buy key support on wheat near 390 and there is value there. Otherwise it was a wash day of non-significance. Rain will plague the Midwest corn and soybean harvests this week, with severe storms expected on Thursday from Kansas…


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Grains and cattle rally to continue one more day

FOR WEDNESDAY: (10/5) Commodity Weather Group reports that rain continues to plague the Midwest harvest with forecasts putting severe storms in Kansas and Nebraska today and flash flood warnings from Oklahoma to Minnesota. Rain lingers on Wednesday with more storms in Kansas on Thursday and flash flood warnings from Kansas to Iowa. So far there…


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More rain in Iowa this week may support grains

FOR TUESDAY: (10/4) Monday’s violent rally was a bit of a shocker. We had cycles up for a few days and funds sometimes buy Oct. 1st for a week or so before the next USDA report but this was a bit much. Some announcement of the USDA not allowing flooded grain onto the market was…


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Cattle look higher on Monday

FOR MONDAY: (10/3) Corn closed higher for the day after USDA reported smaller-than-expected Sept. 1 stocks of 1.74 billion bushels. The change in the stocks and other factors were enough to push December past resistance at the 20- ($3.34) and 50-day ($3.34) moving averages and higher for the week. Going into October, attention will focus…


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Continue to sell grain rallies

FOR FRIDAY: (9/30) Last of the month is often short-covering and profit-taking for funds no matter what the USDA comes up with. Hard to imagine anything friendly. Rallies will continue to need to be sold with harvest pressure and hard to imagine beans having a good number. We’ll continue to play cycles and patterns. We…


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Cattle getting close to being done

FOR THURSDAY: (9/29) Hard to be short grains but market may continue short-covering on Thursday, and Friday’s report reaction may also continue with short-covering. Harvest selling should pick up by Sunday. We may have to continue to take profits on grains if we can get lower. In the end, we’ll have to sell any rallies…


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Harvest selling should pick up by Sunday

FOR WEDNESDAY: (9/28) Crop fundamentals remain bearish with harvesting under way in much of the Midwest this week and forecasts call for dry weather the next few days. The seven-day forecast also favors dry conditions for much of the Midwest, while the 6- to 10-day outlook has above-normal chances for rain in Iowa and for…


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Corn needs to take out 327 to project 323 and 320 into Wednesday’s low

FOR TUESDAY: (9/27) Storms are moving across the eastern Midwest this morning, their punch diminishing as the system moved east. Maps over the next seven days indicate little behind that front, which should increase the pace of harvest after a somewhat slow start. Official 6- to 10 and 8- to 14-day forecasts call for above…


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Grains lower into Wednesday

FOR MONDAY:  (9/26) Weather forecasts continue to call for a wet weekend that will delay harvest in some areas. October outlook is for bouts of rain which will make harvest a challenge for producers across the Midwest. Still, while storms continue to fall across parts of the Upper Mississippi River Valley, maps over the next…


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Grains should continue to stay below Wednesday’s highs

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…


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