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The 6 to 10 day is warmer and wetter than normal for the Heartland and this is good for maturity of the corn and bean crops and moisture is not impeding harvest, yet! We're still a couple of weeks away from the fly free date and soft red wheat seed sales are reported to be a little higher in the fringe areas in the Midwest. Chicago is still abnormally expensive this crop year, next crop year and even 2 years out. When in doubt, stay out and Chicago still is exhibiting strange behavior.

Whatever the USDA reports at 11:00 Chicago time on Thursday it's likely that the trade will question the figures as the prevent planting acreage is a "learn as you go" item. Regardless, we still sense corn and bean spreads to remain on the defensive while the wacky world of wheat appears to defy logic, reason and economic laws.

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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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