The following commentary does not necessarily reflect the views of AgWeb or Farm Journal Media. The opinions expressed below are the author's own.
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.
corn: 988 million vs 1.11 billion expected
soybeans: 169 million vs 131 million expected
wheat: 2.10 billion vs 2.28 billion expected
The big story this morning is corn stocks coming in below the 1 billion bushel mark. As you can see from the numbers above, this is 10% lower than what the trade was expecting and we now see DEC corn trading up 30 cents to 747. This has put a bid under a corn market that has looked to test $7.00 per bushel in recent weeks.
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