Grain TV: Wheat Carries Corn Lower on Wet Forecast
Overnight gains were unable to hold as markets moved lower throughout the day with feeble attempts at rallies. The Brazilian soybean crop continues to show strong promise, pressuring prices with expectations of heavy export competition. Brazil’s second safrina corn crop is also off to a solid start.
The bulls were again winners in an exciting week for longs and producers. In last week’s report, I said the markets bias would be near unchanged to a bit lower.