Opinion
Grain markets closed mixed this past week as demand interest from China supported soybeans (and canola followed) while all other crop prices fell on expectations of bigger crops. In the June WASDE report, released on Thursday, the USDA showed the market weaker ethanol demand and a bigger U.S. winter wheat harvest. Supporting grain markets before that had been some warmer/drier conditions forecasted for not only the Midwest, some other areas of Canada. For those who are bullish/hopeful on a weather rally, keep in mind that many areas have decent soil moisture that’s carried over from last year. Going into the…
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