Bergman Grains Midday 7.23.13
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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