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Bergman Grains Midday 7.23.13

Doug Bergman 07/23/2013 @ 11:54am 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.

DOUG, BERGMAN +1 312-870-1503

VP - Agricultural Derivatives

dbergman@rcmam.com

 

Market Commentary | US

7/23/2013, 11:00 CST

COMMODITIES | AGRICULTURE

Bergman Grains Midday

 

The ag markets are trading lower across the board.  Sep. corn is down 28, Dec. down 14, August beans down 34, Nov. down 10, Chicago wheat down 6, KC down 3, and MW down 2.

 

Rains hit some areas across Iowa overnight, which led to some early weakness.  Dec. corn took out the 4.90 level and hasn’t been able to mount much of a comeback.  The Sep./Dec. spread has moved lower.  This is the lowest the nearby corn contract has traded since November 2010.  I’m not a big fan of selling it in the hole today, but think rallies should be viewed as selling opportunities.

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