The most recent 6 to 10 day forecast calls for generally warmer and wetter for the Heartland. Hopefully, we get an extended growing season and allow for corn and beans to mature. Get the bushels first and then get the demand!
Field reports are still promising for corn in the South and Mid South and hopefully Dorian stays East and bypasses the Eastern Seaboard. Next week’s crop report has to be respected yet, it’s believability might not be high given the uncertain compilation methods of the USDA.
Wheat, specifically Kansas City is historically undervalued to corn and soft red wheat. There are opportunities!
The Fed appears to be on a quantitative easing binge again yet, no where near to what it was like during the helicopter money years and much higher commodity prices. The World’s race to zero and devaluation of currency could be supportive to flat price. We still sense that spreads, in all grains, might stay soft.
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Steve Bruce
Walsh Trading
312 985 0156
888 391 7894 toll free
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