Corn -2 @ $6.42
Beans -1 @ $12.32
Wheat -6 @ $6.62
Good afternoon bloggers. Very quiet day and small trading ranges today. Corn and beans seemed to trade around -2c to 0 cents all day long. US corn and bean exports remain slow. US $ weaker. Crude higher. South American news has been on the back burner lately. Brazil and Paraguay bean harvest is underway. Argy beans are soon to follow. Both Brazil and Argy are getting after corn as well. We should begin to hear some reports coming out of South America about production. USDA Supply and Demand report should give us a glimpse of things to come.
Russian and Ukrainian wheat concerns have also subsided recently. Winter kill replant is expected to exceed 5.7 million acres. Officials have not yet decided if export restrictions are necessary. As of right now, the Russian production union president said an export restriction is not necessary at this moment in time. Greece debt troubles continue and looks like there is no end in sight. Illinois river corn basis is firming. Illinois river bean basis remains steady. Look for lack-luster/ quiet trade for tonight and tomorrow. USDA Supply and Demand on Thursday will add some volatility to the mix.
Light snow expected today and tomorrow for beautiful northern Illinois. Temperatures are expected to remain in the low 30's for the next 7 days. Longterm forecasts have temperatures steadily increasing.
Stay classy Illinois,
Nathaniel Dubravec