In our area, we are beginning to see many grain trucks delivering grain to the elevator. One could assume it is due to the weather and the inability to get any remaining crops planted or the prospect that producers are beginning to believe the crop is out there and the worse is yet to come. Either way it still all comes down to weather!
Up to now the crop has been at or above average in both corn and soybean progress but today we may begin to see soybeans lag for the first time due to weather. The weather outlook is beginning to show some dryness and heat in the 6-15 day outlook implying a greenhouse effect for much of the U.S. November 2015 Soybeans settled unchanged on the assumption that if the rain continues some acres may not be planted and the wheat/bean acres will be delayed as well.
The other factors affecting the grain market is a strong U.S. Dollar and outside global influences in the market. One must assume a continued choppy to downside trend in the grain markets near-term with the potential for a low in the markets sometime in the July/August time period.
Any questions or suggestions, email me at firstname.lastname@example.org.
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