Will buyers show up on Tuesday?

Overnight- Wheat futures are slightly higher with corn and soybean futures a little lower.

We had some fund buying yesterday as we added to the relief rally caused by the Middle East conflict that has quieted slightly the last few days.

Planting progress was modest but is right around average.

Weekend showers could slow progress, but we are early.

Winter Wheat condition was lower than expected at 50% GTE down from 55% as the Southern Plains have had weather issues.

Weekly inspections were strong for corn and wheat but not so for soybeans.

Some world wheat producers that are having issues with dryness include Russia, Turkey, India, Australia and E. Ukraine.


Look for buyers to show up again today on any pullbacks. Looking at the July contracts corn needs to stay above 4.41 and soybeans above 11.59. Wheat will need to lead the way up as it is developing a friendly story. NFC Grain Comments Options -new (42)

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