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Bergman Grains Wire 7.26.13

Doug Bergman 07/26/2013 @ 11:07am 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

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Market Commentary | US

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      

     HIGHLIGHTS

  • 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.

WEATHER

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