Wheat and Beans Turn Negative

August 20, 2010 10:08 AM

The general tone in the wheat and soybean markets turned negative this week. It appears La Niña is too late to affect the U.S. crop and there will be an ample supply of beans.

Meanwhile, the Russia government insisted it will not buy grain this year. “We’ll see,” says Jerry Gulke of the Gulke Group. “Jan. 1 is a new year. It could be that next year is when Russia’s grain shortage hits home.”

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