Weather models holding out hope for some rain and cooler weather after August 1 along with Argentina trying to prompt farmers to part with their corn put pressure on the grains today.
Weather models holding out hope for some rain and cooler weather after August 1 along with Argentina trying to prompt farmers to part with their corn put pressure on the grains today.
India is the largest exporter of rice in the world, constituting 42% of the world's trade. Their crop troubles in banning rice means other countries will have to look for race elsewhere or replace it with wheat.
Along with the weather creating the rally in grain prices, Russia stepped into the news again, and we explain.
The safe grain corridor is closed, and bombing on the Crimean bridge did not help matters. Yet prices went from sharply higher overnight to lower.
Corn has rallied $0.30 since Wednesday's crop report closing well over five dollars on a Friday and we explain why.
Grain futures are on the rebound with corn also gaining double-digit prices as value seems to be found in the short term after yesterday's bearish WASDE crop report.
Soybeans jump over $0.20 higher in the night session as crop ratings did not show the improvements Monday afternoon many were hoping for.
China stopped the decline in soybeans when its lows went on Friday, is a step in, and bought 10-14 cargoes of soybeans over the weekend and today. This has thrown support in the corn trade with December dancing with the $5.00 mark.
Rains showing up for the driest southern Minnesota and Northern Iowa area picked up good rain potential in the 6-10 day forecast. This caused soybeans to close lower on the week with corn giving up all its gains in wheat retreating sharply as well.
