FOR THURSDAY: (10/6) Not sure we learned too much on Wednesday except people are willing to buy key support on wheat near 390 and there is value there. Otherwise it was a wash day of non-significance. Rain will plague the Midwest corn and soybean harvests this week, with severe storms expected on Thursday from Kansas to Iowa, but the 6- to 10-day outlook favors a warm and drier pattern for the region. Traffic on the Mississippi River should return to normal as the Army Corps of Engineers on Wednesday reopened the only lock that closed due to the high water that spilled out of Iowa. Wheat was sharply higher on Moroccan purchases.

Comments are closed.