By: Patrick McRae – Grain markets as a whole closed lower on the day. Technical trade interaction going into the end of the week likely lead to some profit taking action on corn and wheat. The soybean market was apparently optimistic going into yesterday’s close on China tariff negotiations, but…
Commentary
Overnight Market Update
By: Kelley Fornoff – Grains pushed lower again overnight with soybeans leading the way lower after running into some chart resistance. At the break, July corn is 1’2 lower at 406’6 and July soybeans are 11’4 lower at 1041’6. In wheat, July Chicago wheat is 6’0 lower at 532’0, Kansas City…
Afternoon Grain Market Recap
By: Jeff Kaprelian – Grains finished higher across the board led by a consistent rally in wheat. Wheat markets finished higher on short covering after the market broke through technical resistance. The Wheat Quality Council’s Kansas tour wrapped up today and released findings for the smallest crop since 1989. They see…