Corn, wheat, soybeans wait for Thursday USDA report

Grain markets calm

Corn Corn

Corn: Yield, acreage and demand are all possible changes on this week's report, which means that there are many ways this report can surprise the market. That is a key reason trade is likely to stay calm and stick to light profit taking going into Thursday…Ryan Ettner

Soybeans: The question being asked most by our customers is, “are the fall lows in?” We are in the time frame that we tend to put the low in. We will have to get through Thursday’s report, which is anticipated to be bearish to feel confident saying the fall low is in…Jim McCormick
 
Wheat:  Wheat looks the strongest on the charts and could still stay in the range it has been in for the last three months. The government was closed today, so no exports reported but we will be waiting to see if there are any reported tomorrow…Steve Georgy

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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