Home / Crops / Corn / RCM Morning Grains Wire 6/11/2013

RCM Morning Grains Wire 6/11/2013

Doug Bergman 06/10/2013 @ 11:00pm 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.

6/11/2013, 8:00 CST

COMMODITIES | AGRICULTURE

RCM Grains Morning Wire

 

CN +2           SN +9             WN -1/2           KWN -1/2           MWN +1½

     HIGHLIGHTS

  • Markets trading mixed overnight with July beans the only market making much of a move.
  • Crop progress yesterday showed corn planting 99% complete (as expected), bean planting 71% (a bit below expectations), and corn rated 63% g/e (a bit lower than expectations).  No major surprises, however.
  • USDA report out tomorrow at 11 AM Chicago time.  Estimates will be emailed out later this morning.
  • Dec. corn tested support near the 50 DMA yesterday and again last night, bouncing both times.  July corn is also trading right at the 50 DMA on a continuation chart.
  • Cash markets firm for corn and beans with basis pushes beign paid.
  • South Korea bought 134 tmt of optional origin corn.
  • Taiwan Sugar Corp. is tendering for 23 tmt US corn and 12 tmt US beans.
  • Japan restricted imports of US feed wheat out of the PNW, but they are still interested in US SRW.  They are seeking 120 tmt of feed wheat and 200 tmt of feed barley.
  • The Senate passed a bill to end direct payments.
  • USDA lowered India wheat production forecast to 87 mmt (92 mmt previously).

WEATHER

CancelPost Comment
MORE FROM DOUG BERGMAN more + No other content from this user
MEDIA CENTERmore +
This container should display a .swf file. If not, you may need to upgrade your Flash player.
Felling a Tree
Agriculture.com

FREE MEMBERSHIP!

CLOSE [X]