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It appears that we are on hold in the grains. South American weather has not been as good as it was in December and yield potential has slipped yet, there's still a lot of bushels ready to hit the market in the next two months so corn and bean users might be patiently waiting for the harvest pressure to start a buying program. Wheat remains concerned with quality issues and lower acreage in the US winter wheat crop yet, rallies will be muted unless corn and beans get excited. And, that appears to be on hold as the world is still concerned with the lack of progress being made with Chinese negotiations as well as the unrest in Britain with Brexit, France with the yellow vest movement and uncertainty in the Middle East. Central bank and Federal Reserve activity is also keenly monitored and the general consensus is that we might be facing a very anxious and nervous climate for the next few months Basis levels have been on hold and there's not a lot to talk about other than politics and weather unless we want to focus on the livestock and poultry diseases popping up around the globe It always comes down to timing and it appears that grains are waiting for another time, maybe when March rollover starts in a few weeks, to make a move.

The information contained on this site is the opinion of the writer and obtained from sources cited

within the commentary. The impact on market prices due to seasonal or market cycles and current news events may already be reflected in current market prices.

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Steve Bruce


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Steve Bruce comes from the cash grain side of the market working for General Mills at the ChicagoBoard of Trade in the summers in the 1970's calling the country to buy wheat at cheap basis levels and with Illinois Grain learning the barge trade. He then spent the 80's , 90's and 00's servicing commercial clients with Geldermann and Man Financial from the trading floor of the Chicago Board of Trade shared market perception via print and electronic media. Steve takes a fundamental approach to market analysis. He completed his undergrad at Marquette and MBA at De Paul. Steve believes in the free market, Chicago School of monetary policy, and less government involvement and intervention in the grain markets. He is risk adverse but emphasizes spread trades for optimal hedging profitability. Steve can be contacted at 312 985 0156 or 888 391 7894 or email him at sbruce@walshtrading.com.
 
 
Contributing author since 06/14/2018 

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