Market Thoughts by Marc - June 14 '17
July corn 377 - 4 July Soybeans 931 ¾ - ¾ July Mpls wheat 627 ½ - ½
Sept corn 385 -3 ½ Sept soybeans 936 ¼ - ½ Sept Mpls wheat 634 ½ + 0
Dec 17 corn 395 ½ -3 ½ Nov17 Soybeans 939 - 0 Dec 17 Mpls wheat 603 ¼ + 1 ½
I am not working out of my regular office for the next week. So the schedule for the update may vary until next Wednesday. The family is celebrating my dad’s 100th birthday.
Spring wheat has been leading the rest of the ag markets higher. So yesterday when Mpls wheat traded to a new recent high, and closed unchanged, it was not a good technical indication.
So yesterday may reflect the uncertainty in the weather patterns or profit taking in a market that has made a big move. Whatever the case, the market will need some “new” news to get another rally started.
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