Corn unch, beans up 16, wheat up 10

Crude Oil- 70.25 up 3.05
US Dollar- 92.73 down .23

DOW- 34,775 up 263

The markets tried to keep the positive momentum, but corn closed unchanged with beans down 4 cents. Wheat managed to close on a positive note, the news for wheat is that the severe dry conditions in the northern part of the country as well as into Canada are really a concern for wheat. Something to consider, if you’re still sitting on grain understand that the market is inverted. Meaning that the market is wanting the commodity now rather than later. Weather is dry for the next week to 10 days with temps in the 90’s. As we head into August the beans will be looking for a rain before long. I’m not saying we’re in a drought or that there is an issue for beans currently but we’ll need to see a shower at some point.
Copyright DTN. All rights reserved. Disclaimer.
Powered By DTN