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Drying Out


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It's a tough time in the growing season to be too bearish yet, the funds are short with a large edge and if we hit on all cylinders over the next few months they'll be able to exit with a profit when the producer surrenders his crop during harvest. Forecasts of a little warmer than normal as well as drier than normal for the majority of the Heartland in the most recent 6 to 10 day forecast might be seen as cooperative to plantings for corn and development for wheat. Additional selling might be generated from a negative macro outlook as there continues to be concerns over central banks, Brexit as well as social unrest in Venezuela and other hot spots.

Spreads are still indicating that there's no urgency to own corn nor beans while wheat is still showing that we need decent quality regardless of quantity in both the domestic and international markets. The market will be sensitive to weather stories the next few months yet, as of this writing, things look good in Europe, Black Sea region, India as well as the Heartland.

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


Walsh Trading
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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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