Holding Pattern?

Still cooler and wetter than normal in this morning's 6 to 10 day forecast for the Heartland from the National Weather Service. Not good for wheat which is ready to harvest yet might be okay for the recently planted corn and beans so the sprout can break through the crust!

Beyond arguing the impact of the weather on the domestic crop we still need to stay aware of the problems in Australia and the waffling conditions in Europe. Washington and Brussels and Singapore and Beijing could surprise us like the USDA!

It feels like a day of rest as weather markets tend to move on Mondays and Thursdays and use every other day to stay in moderate ranges. Spreads are still unnerves in wheat yet corn and beans still feel weak as we approach first noticer day on the July futures on June 28.

The information contained on this site is the opinion of the writer and obtained from sources cited within the commentary. The impact on market prices due to seasonal or market cycles and current news events may already be reflected in current market prices.

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Steve Bruce

Walsh Trading
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