Kleist Comments

MORNING GRAINS 7/12/13
MORNING GRAINS 7/12/13

Corn:

Exports: Sold China 960,000t new crop.

Comments: July expires at noon, perhaps we can see some old school blood spilt; finally dept.: that infamous Chicago forecaster used the word “dome” for the heat coming in next week and if dry I can use my ‘dome of doom’ reference (it’s the little pleasures gentlemen); India—early monsoon will increase their total grain crop plantings to 51.8mln.ha. vs. 34.1mln. yr.; open interest rose 7,000 amid moderate/good volume. Considering it’s a ‘weather market weekend™ not likely to see a serious decline in prices today. No opinion change.

SOYBEANS:

Exports: None Visible.

Comments: July expires today at noon and it’s been very thin; Argentina workers to do a 1-day Port strike on higher taxes; India sees a combination of early monsoon and higher prices increasing oilseed plantings to 13.6mln.ha vs. 6.8mln. yr., production 18-19.5mln..m/t’s vs. 15.8mln. yr.; open interest rose 3,500 even as August falls 2100 amid moderate volume; no opinion change here.

Wheat:

Exports: None Visible.

Comments: Fresh news: none visible? Really it is very quiet this morning or I am just missing it somewhere. USDA report still providing underlying support early here; open interest rose 1,200 amid strong volume; no opinion change.

Kleist Comments

This is John Kleist, of Kleist Ag Consulting.
Questions? Email me: johnwkleist@sbcglobal.net

Disclaimer: Trading options and commodities involves risk of loss and my not be for every investor. Past trading results may not be indicative of future performance. Although information and opinions provided herein are compiled from sources believed reliable, the sender, EBOT Trading, or its principals cannot attest as to accuracy or assume any responsibility for any errors or omissions as the information may not be complete or events may have changed.