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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.
Slash In Corn Yield Estimate Rallies Market On Open, Grains Drifting Lower At Mid-Day
Jul 11, 2012
We saw DEC '12 corn print a contract high of 748 this morning before being pressured lower. This morning's WASDE report was neutral to bullish for the grains, with the big number being the USDA corn yield forecast coming in at 146 bu./acre. A sub 150 yield has been largely priced into the market as DEC '12 corn has added $2 per bushel in recent weeks.
The grain complex has now turned negative on the heels of the USDA WASDE report. The screen capture below is from 12:00 Central, and corn is testing 700 on the DEC contract.
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GrainTV WASDE report analysis:
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