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Feeding the Bull


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Corn and beans need something besides wet weather and planting delays to feed the bull today. In fact, wet weather may start becoming a bearish influence as what's going to get planted this year may already be incorporated into the market's psyche! But, wet and damp might continue to be friendly to winter wheat spreads as quality is deteriorating and end users may make a stand with futures at some point this year. We're not going to run out of anything at least, for a couple of months but God help us if South America has any problems next year. We're looking at CH/SH/WH and forward months as pretty flat already and these might be the contract months where any world tightness surfaces. But, wheat might be the first grain/oilseed to invert. We're still watching the weather and the NWS 6 to 10 day forecast is looking a little better temperature wise but, still too wet! Wheat could use some dryness and given the harvest rate so low there could be a lot of disappointment with this year's quality!

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
312 985 0156
888 391 7894 toll free
312 256 0109 fax
sbruce@walshtrading.com
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Chicago, Il 60604



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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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