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RCM Grains Wire 6.26.13

Doug Bergman 06/26/2013 @ 11:26am 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.

6/26/2013, 8:00 CST4

COMMODITIES | AGRICULTURE

RCM Grains Morning Wire

 

CN +4 ¾      CZ +3/4       SN -3 ¾        SX -2 ½        WN +3     KWN +1 ¼    MWN +3   

     HIGHLIGHTS

  • Markets trading mixed overnight with beans giving back part of the recent gains while corn and wheat trade higher.
  • Ethanol numbers out at 9:30.
  • Cash corn markets eased a bit yesterday, but still trading at premiums to futures with strongest bids at WCB ethanol plants.  Cash beans on fire yesterday with new high basis levels being paid by crushers.
  • South Korea bought 120 tmt of optional origin wheat.
  • Japan is tendering for 320 tmt of feed wheat/barley in their weekly tender.
  • Russia sold 32.3 tmt of intervention grain.
  • Mexico banned imports of US feeder pigs related to the virus that is hitting US herds.
  • Quarterly hogs and pigs out Friday with expectations of a slight increase in the US herd.
  • July corn bounced off moving average support yesterday.
  • July beans being pulled higher by firm cash markets.
  • Wheat testing the low end of the trading range that we’ve seen since early April.

WEATHER

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