CBOT Closing Comments
Corn closed around 18c higher on forecasts for drier weather to hit the Midwest during the next two weeks.
In an astonishingly predicatable piece of rhetoric "shallow-rooted late-planted blah blah blah vulnerable corn" is seen withering in the ground by some "analysts."
I think they may have spelt that wrong.
Sep CBOT wheat closed 14 1/4 cents higher at $8.64 1/2 per bushel. Weekly exports remain surprisingly solid given the size of the crops elsewhere globally.
Ukraine has harvested 25.5 million tonnes in the season that began June 1, Interfax reported, citing an unidentified official from the Agriculture Ministry. The USDA has predicted a crop of just 22 million tonnes.
As reported elsewhere on the Blog the Russian grain crop is looking substantially larger than "official" estimates. Maybe 13-15 mln larger.
In contrast soybeans took a bath with August settling 24 1/2 cents lower at $12.45 1/2. Crush data and export sales for beans were very poor.
In an astonishingly predicatable piece of rhetoric "shallow-rooted late-planted blah blah blah vulnerable corn" is seen withering in the ground by some "analysts."
I think they may have spelt that wrong.
Sep CBOT wheat closed 14 1/4 cents higher at $8.64 1/2 per bushel. Weekly exports remain surprisingly solid given the size of the crops elsewhere globally.
Ukraine has harvested 25.5 million tonnes in the season that began June 1, Interfax reported, citing an unidentified official from the Agriculture Ministry. The USDA has predicted a crop of just 22 million tonnes.
As reported elsewhere on the Blog the Russian grain crop is looking substantially larger than "official" estimates. Maybe 13-15 mln larger.
In contrast soybeans took a bath with August settling 24 1/2 cents lower at $12.45 1/2. Crush data and export sales for beans were very poor.
