Morning Comments June 20, 2018
Wednesday, June 20, 2018, 8:06 AM
Submitted by: Landus Cooperative
Corn steady to 1 higher
Wheat 7-8 higher
Tariffs and trade are still at the forefront of the markets. Midwest weather remains favorable, but too much rain is starting to get talked about.
Corn is currently trading at 6 month lows and beans yesterday hit a 9 year low.
China’s needs for beans for the next 3 months are getting questioned, some traders feel that they are covered through September.
Funds who have been extremely long 3 weeks ago have liquidated their positions and are currently building net short positions.