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The reports are out at 11:00 and it will be interesting to see if the High Frequency Traders have adapted to the previous contrary data report where stocks were bullish and production bearish, or vice versa! Regardless, we'll be talking about the weather forecasts by 11:01! And the NWS is saying much warmer and wetter than normal for the Heartland in its last 6 to 10 which coulde be seen as bearish to prices as heat is still needed to bring home the late planted corn.

Potential trade deals with Brazil, China and others might influence price action but there have been so many times we were "this close" that the trade might take a wait and see approach.

Corn and bean spreads might remain on the defensive as the country gets more comfortable with the maturity of the Eastern crops. This might shake out some soft red wheat as no one is getting paid to store it and space could be needed for corn and beans.

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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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