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Tidbits, Broilers & Ethanol, Markets & Rain Days Update 4/13/23

Highlights


The most important price outlook indicators for corn, wheat and beans without any reliable fundamental news from the USDA is carry (daily), basis (weekly) and technical outlook.

Let’s take a look at the May to July carry for the first three days this week:

  • Corn: May gained 4½¢ on the July = Bullish

  • Beans: May gained 11¼¢ on the July = Bullish

  • Soft red winter wheat: May gained 5¢ on the July = Bullish

  • Hard red winter wheat: May lost ½¢ on the July = steady with a weak flavor

  • Hard red spring: May lost ¾¢ on the July = steady with a weak flavor


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