7/26/2013, 8:00 CST
COMMODITIES | AGRICULTURE
Bergman Morning Grains Wire
CU +1 ¼ CZ +½ SQ +¾ SX +3¼ WU +5 KWU +3 ¾ MWU +3 ¼
- Markets stabilizing overnight after August meal came off of locked limit down.
- Futures moves this week mostly driven by violent drops in the US cash corn and bean markets.
- August options expire today.
- Old crop cash corn bids down as much as $1.00 yesterday while new crop actually firmed. Old crop cash beans were down again, but not as much as corn and new crop was firmer in general.
- South Korea bought 65 tmt of optional origin corn and 60 tmt of optional origin feed wheat. Total South Korean purchases over the last 9 days of corn and wheat estimated at 705 tmt.
- Japan bought 13.3 tmt of food wheat, barley.
- North Dakota wheat tour estimated spring wheat yield 44.9 bpa, which is the same as a year ago.
- USDA announced 220 tmt of beans sold to China for 2013/14 on the daily report.
- USDA announced 8 tmt of corn sold to unknown for 2012/13 and 203 tmt of corn sold to unknown for 2013/14.
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