Ag Commentary

John Walsh Grains

The soy complex rallied today due to a continued dry forecast for the western belt. The heat has somewhat moderated. The question will be if the dryness persists for the next 2-3 weeks. This would have the potential to effect the overall yield potential. There have been a few scattered showers that have shown up unexpectedly. This may mean nothing but perhaps should be considered. The meal was the weak link of the complex as the bean oil rallied due to persistent issues in Canada that may affect the canola crop. This needs to be watched as some private estimates are coming down.  As has been the case over the last couple weeks. The weather now is key and the market will act accordingly. The risk has gone up,so be advised and trade accordingly.

Be well