The following commentary does not necessarily reflect the views of AgWeb or Farm Journal Media. The opinions expressed below are the author's own.
Joe Victor is a Business Development Specialist with Minneapolis Grain Exchange, Inc., where he monitors cash grain activity and cash grain opportunities. He provides marketing advice through this blog.
Hard Red Spring Wheat is trading higher at 11:02 a.m. central time. The outside markets have a lower US Dollar Index and gold futures with the Dow Jones Industrial Average and crude oil futures higher.
Hard Red Winter Wheat is trading higher. The NWS 6-10 day has moisture for northern KS and two week forecast estimates above normal precipitation for the Southern Plains.
Soft Red Winter Wheat is trading higher. The overnight Paris Milling wheat futures most actively traded month are presently 2 Euro lower versus the settlement the day before.
Corn futures are trading lower. Private meteorologist suggest the two week weather forecast is mainly good for crops other than too much moisture for Rio Grande do Sul.
Soybeans futures are trading lower. Weather in Brazil is expected to be beneficial according to private weather analysis for the next two weeks. These same private forecasters suggest southern Brazil is likely to experience localized flooding especially in Rio Grande do Sul.
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