Wheat was the leader today in the grain futures closing strongly higher. Corn and soybeans were sharply higher overnight along with wheat, but both corn and soybeans started to back off at mid session on some profit taking but still managed to close slightly higher. Wheat also backed off at mid session but firmed back up heading into the close. Support came from a lower U.S. Dollar, higher commodity prices, higher French wheat futures and lower Australia production estimates. Private sources now put the Australian wheat crop at 22 to 23 million metric tons. The USDA is still forecasting a 25 million ton crop.
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Harrington Seed Plant Hours Mon - Fri 7:30 am to 4:00 pm Saturday by Appointment
Market hours: AM 9:00-11:10, PM 3:00-4:30 No PM market on Fridays No PM Hard Wheat Markets
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We haven't seen many limit up or limit down moves in the grain markets lately, even after USDA reports. The record corn and soybean harvests are a supply factor that's hard to outweigh. And as prices have fallen, so shall the daily futures price limit.
A light rain and snow mix along with windy conditions is in store for the eastern Midwest Friday, focusing on the Great Lakes. This combination will cause some disruptions in harvest and possible transportation issues. Dry conditions are in store elsewhere, offering good chances for harvest activity. Very cold conditions in northern and central areas will help drying for crops as well. » More DTN Weather Commentary
Posted at 5:48AM Fri Oct 31, 2014 CDT
Did You Know?
In 1997 "Dolly" was cloned from an udder cell of an adult sheep