Grain commodities taking a hit today as concerns worsen about the oil spill that is potentially threatening to shut down export operations in the gulf. Planting continues on a record pace as well, with the USDA announcing corn planting at 68% nationwide, Illinois at 87% and Iowa at 84%. The strength of the dollar was the catalyst for the declines, with the absence of fresh news in the face of bearish underlying fundamentals keeping many buyers on the sidelines.
Weather is looking mostly dry and seasonable weather will affect the central U.S. into Thursday, followed by rain in northern/eastern corn and soybean areas Thursday and Friday. Notably, the Delta stays mostly dry over the next seven to 10 days as the best rain chances focus to the north.
Chris Spurlock
Posts
No comments:
Post a Comment