Ag slide continues with the Russia corridor extended and China corn cancellations. July corn hit for another 19 3/4 to 561 1/2 with December off 6 cents 499. My calculator gets a lot harder for the funds to push new crop below 490. I remind everyone again its a long growing season and this weekend should provide the last of the sell what I got planted mentality. After that we shift to oh my god can I grow what I sold. Wheat off 22 to 625 1/2. Beans off 27 cents, 1337 as river freight is so low we know exports are slow. Meal still showing some promise and I struggle to get meal much below 415-420 with Argy low of supply moving forward. Rice pops a dime as 1740 area found trade, 1751 close. Dow in an up churn day recovering all Tuesday drop, 33,478, plus 418 points and bonds leak 11 tics, 128.25. Probably too low to sell and too high to buy.
Leave a Reply.