Grains Following the Same Pattern As Monday
Todays grain action is the same as Monday’s. Wheat is the strong one, beans the weak one and corn in the middle. It seems wheat might be helping corn as some traders are talking about less wheat being fed to livestock because of higher prices. Certainly that would increase the demand for corn. Wheat is still being supported by the hot dry weather in the South. In fact, there was even comments from the White House about how hot and dry it is in the South. Traders are starting to talk about the USDA Supply Demand Report that will be released Friday. In addition to maybe adjusting this years carryover numbers it will also be the first projection on the 2014 crop.