FOR WEDNESDAY: (10/5) Commodity Weather Group reports that rain continues to plague the Midwest harvest with forecasts putting severe storms in Kansas and Nebraska today and flash flood warnings from Oklahoma to Minnesota. Rain lingers on Wednesday with more storms in Kansas on Thursday and flash flood warnings from Kansas to Iowa. So far there have been only minor disruptions to Mississippi River traffic. The Army Corps of Engineers on Tuesday said the one Mississippi River lock that is closed should reopen tomorrow.
Inclined to think that the rally for grains and cattle will continue one more day. Hard to do countertrend buys on the grains and have to bank profits on cattle longs as things disappear quickly in that market.
