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RCM Grains Wire 6.24.13

Doug Bergman 06/24/2013 @ 11:27am Originally from a grain and livestock farm in central Illinois, Doug Bergman began his brokerage career at Iowa Grain Company before moving on to a broker/analyst role at MF Global. Doug currently runs the agricultural trading desk at RCM Asset Management, providing trading and hedging solutions to commercial grain and livestock customers as well as speculative traders. Doug provides his customers with timely research and analysis, producing three daily research reports. Doug still takes an active role in the family farm.


RCM Grains Morning Wire


CN -7 ½      CZ -12 ½       SN -5 ¼       SX -14       WN -9 ¼     KWN -7 ¼     MWN -1  


  • Markets lower overnight on a better forecast as well as concerns over China equity markets, which saw a 5% loss overnight.
  • Crop progress out this afternoon with bean planting expected to be near 95%.   Crop ratings for corn and beans expected to be up 2-3% (64% last week).
  • Quarterly stocks and acreage report out this Friday.  Pre-report estimates will be sent out later today.  7 out of last 9 June stocks reports have led to limit moves in corn.
  • Russian spring planting complete with spring wheat acres dropping slightly from a year ago while corn acres were up slightly.
  • Cash beans firm through the end of the week while corn did see some weakness.  Both cash markets still trading at a premium to futures.
  • Cattle of feed showed 97% on feed and placements 98%.  Both numbers slightly above expectations.
  • Friday’s commitment of traders report showed managed funds sellers of 9k corn, 19k beans, and 12k wheat.


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