- Monday’s Chicago trade shows us to be both lower and slower as we approach the close. It seems that fund support is waning somewhat and we would question their appetite for long positions at this time. Should this be the case our question remains, “Where are the buyers to sustain the current price uplift?”
- We are awaiting NASS’ first weekly crop condition report later today, and this is expected to show US winter wheat conditions to be well above last year.
- There is a possibility of a small (5-15 cent ??) rally in corn should we see weather induced planting delays although we continue look for prices to decline in the longer term in light of global stock levels.