Home | About | Blog | Facebook | Twitter

Wednesday, August 03, 2016

Wake Up Call Allendale Advisory Center

Wake Up Call Allendale Advisory Center: Grain markets are mostly higher on short covering after a sharp decline. Crude oil recovers and the US Dollar is higher. Stock indices continue on a weak path.

New crop corn futures hit 3.19 � in the September contract. Is that close enough to last year’s target low trade has been touting?

Soybean traders are facing the fact that weather conditions for the balance of August does not provide many problems for bean development. Analysts estimates are now raising national soybean yields which increases the potential carryover for 2016/17. The reluctance of managed money to reduce net long positions over the past several weeks also provides a negative bias.