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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