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The freshest 6 to 10 day forecast leans a little warmer and wetter than normal for the Heartland. This might be viewed as positive for crop development and negative for prices and spreads.

This afternoon's condition reports might offer some attitude to the market the rest of the week yet, it appears that there's little cause for concern foracoupleof weeks and it comes down to when the first killing frost occurs. We'll figure out harvested corn acres later.

Chicago wheat has lost some luster to KC and Mpls this past week yet there's still a lot of premium.The market is screaming for increased seeding for soft red this Fall and it pencils out to take a chance of getting wheat in the ground and double cropping beans in middle Illinois, middle Indiana, Kentucky, Tennessee and Ohio. Chicago over Kansas City in the new crop July contracts is historically abnormal.

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About the author

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
Contributing author since 06/14/2018 

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