A current snapshot of the ag marketplace shows front month corn below $4 and soybeans below the $10 mark. Unfortunately, there isn’t a lot of bullish news for the markets to react to right now to generate positive price movement. John Heinberg is a Market Advisor with Total Farm Marketing and says that the lack of bullish news is not unusual for this time window of ag trade.
He points to the August WASDE report as the next potential yield adjustment.
Heinberg mentions the current situation in South American grain production and says he is watching where that grain is headed.
Heinberg adds that South America could provide most of the grain destined for China.
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