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Warm and wet is what we're going to get according to the NWS in the Heartland in its most recent 6 to 10 day forecast. Might not be what's needed to feed the bull for corn and beans yet, it's not good for wheat harvest.

Bull markets need to be fed everyday and we've rallied on too much moisture but anything green and growing right now benefits from "reasonable" rains. Anything amber and mature does not benefit from rains right now. Yet, the belief of larger wheat crops in the World outside of the US and Australia has had an adverse impact on flat price. But, we are hearing of growing quality concerns which may have a positive impact on wheat spreads.

Corn and bean spreads have tightened a bit yet, as first notice day approaches we're going to see who wants to stand for delivery and deal with the mechanism. We still sense that nearby demand is a paper tiger and spreads may start widening out next week ahead of first notice day, the stocks-in-all-positions as of June 1 report as well as acreage numbers.

The Federal Reserve decisions as well as other central bank plays will have an impact today. Threats of uncertainty in the Middle East is having an impact on metals and energies. Be nimble today!

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
www.walshtrading.com


Walsh Trading
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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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