Corn hinges on ethanol, soybeans see volatility and wheat lags

Opportunities in grains

Crop, field, irrigate Crop, field, irrigate

Corn: As it stands right now, the halting of the ethanol mandate looks unlikely but is another factor that is worth watching. Bulls control the early week trade; now let’s watch Wednesday’s ethanol production report and Thursday’s exports to see what the demand side has in store for this market…Ryan Ettner

Soybeans: The levels we are currently at are forcing the hand of South American farmers as they have a little less than half of their new crop beans already sold. We could see this market continue these very volatile moves as the trade continues to look for a level that is going to ration demand…Cordon Sroka

Wheat: Spring wheat yields continue to impress which has been keeping Minneapolis wheat lagging far behind the other grains while the Chicago wheat speculators follow right along with corn. We will continue to expect wheat to follow other grains, but will likely lead all other grains lower on a selling day…Ryan Ettner

About the Author

Ryan Ettner is a registered commodities broker and grains analyst at Allendale, Inc. Steve Georgy is a Sr. Broker/Manager at Allendale, Inc. Jim McCormick is Senior Broker/Manager at Allendale, Inc. Allendale is registered with the CFTC and NFA and is a member of the NIBA. www.allendale-inc.com

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