A little concern about some rain in the forecast, which may slow down harvest, some rumors of corn problems with scattered reports of blight… Also some rumors about yields not being as high as some had thought, all combined to firm up corn today…
Wheat, for the time being, looks technically like it will defend the 450 level. Perhaps, Wheat looks to have the best possibility of a substantial sustained rally, while corn and beans look still as if the crop is large and getting larger, a fact which should cut through the noise and let us concentrate on the fundamentals which point to lower prices.. It would be nice for the bulls to get some sustained trade above 340 in the CZ and 469 in the Dec wheat… Nov beans still has a feel like it wants to go spelunking, and see what’s down below 9 dollars to 884 levels.
Again, that’s just my opinion…
