Closing Grain Commentary 7/9/10
Jul 09, 2010
This morning the USDA released a Supply and Demand report along with their weekly export sales figures. The overall reaction to the report was fairly neutral for corn and beans and bearish for wheat. Export sales were solid for both corn and beans and came back in line with the estimates for wheat. Beans were strong all day and this looks to be on fears of crop stressing weather. Our weather analyst still is of the opinion that the weather for the majority of the corn- belt is non- threatening. Weather markets are difficult and the volatility that we have seen will probably continue until the crops are made. For producers that need to catch up on sales having resting orders in above the market is the best way to use this volatility to your advantage. Below you will find the entire USDA Supply and Demand Report. If you have any questions about your individual operation or are simply looking to get more protection on as we progress through the summer, please do not hesitate to give us a call.
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