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7/9/26
Corn down 4, Beans down 16, Wheat up 13
Crude Oil-71.53 down 1.74
US Dollar-100.94 down .04
Dow Jones-52,487.41 up 139.02
Traders positioned ahead of tomorrow’s monthly WASDE. The trade expects to see a bigger new crop production estimate which pushed soybeans deep into the red. Today corn digested heavy farmer selling from earlier this week but was slightly supported by the idea that new crop stocks would be lowered tomorrow. Wheat took back yesterday’s losses with traders going long on expectations that domestic production would come in lower than expected on tomorrow’s report.
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