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RCM Grains Wire 7.3.13

Doug Bergman 07/03/2013 @ 10:50am 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.

7/3/2013, 8:00 CST

COMMODITIES | AGRICULTURE

RCM Grains Morning Wire

 

CN +4      CZ +5      SQ +12 ¾       SX +12       WU +10     KWU +9 ¼     MWU +5 ¼    

     HIGHLIGHTS

  • Markets trading higher overnight with beans and wheat seeing best gains.
  • Wheat open interest sharply higher yesterday when the market put in an outside up day.
  • China rumored to have bought US SRW and Australian wheat yesterday.
  • China rumored to have bought US new crop corn as well.
  • South Korea Nofi bought 124 tmt of feed corn and 45 tmt of feed wheat with Black Sea and Brazil the origin.
  • Cash corn and bean basis still firm, leading to a big move higher in July corn yesterday and continued strength in old crop beans.

WEATHER

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