Grain TV by Grain Hedge
Grain TV is a daily recap after the market close, providing opinions on fundamental analysis of market direction, influences and expectations. This daily program is produced by Grain Hedge, a discount brokerage firm that provides farmers and elevators with agricultural intelligence including live market quotes, cash bid data, the Grain Hedge Optimizer™ and mobile trading platforms, all for $7 commission per side. Grain Hedge provides tools to allow farmers the ability to trade when the markets move without having to wait for a broker and the information to execute a marketing strategy with confidence.
Grains Open Up Across The Board Despite Reports Of Precip
Jul 13, 2012
Grains are up across the board at the time of this post. DEC corn up 8 3/4, NOV soybeans up 23, and SEP wheat up 10 1/2. From the map below you can see that parts of Iowa have received up to 1 inch of rain within the last 3 hours. Things remain dry further east were rain is especially needed, with a storm sweeping through Kentucky missing the southern areas of Illinois and Indiana.
At the 9:30 CT open of pit trading we saw some selling pressure enter the market on the heels of improving precipitation forecasts, but grains have regained their footing as we have a weaker dollar and strong outside markets this morning.
Although demand destruction at these price levels becomes an issue, the trade at this point is firmly focused on the production side of the equation. We don't expect the grain market to see a serious pull back from these prices untill we have soaking rains hitting key growing states.
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