Rally to finish the week?
For the week: December Corn – 5.75, November Beans + 16 cents and December Wheat – 30.75 cents.
It had been a tough start to the grain and oilseed market before across-the-board gains were posted today. We have a hot and dry forecast for most of the Corn Belt the next 2 weeks and many crop tours will give us boots on the ground looks at what they are finding in Midwestern fields during this same time frame. Will they find variability due to the early stress put on these crops or have the July and August rains erased most production issues? We will have a better feel for what is out there this time next week and it might provide enough uncertainty for some price appreciation in the near term. For tonight, we will use 4.75 & 13.05 for support and 4.91 & 13.38 for resistance. NFC Grain Afternoon Comments. (26)