The Start Of The "Silly Season" For Grain

We got one week of corn under $5 last week, that did not last long, corn closed at $6.37 and I don’t know why.  There have been canceled export orders from not only China, but now Mexico as well.  Mexico has added Brazil to their supplier list.  The current crop is 81 % planted and all indications are for a bumper crop.  We will begin the silly season where the market will change just on a weather forecast.  Until we can move corn lower, we will continue with inflated protein markets.  Looking at soy oil and we are about as low as I’ve seen in several years. I’m hearing we may be about as low as we will go for a bit, I’m I’m holding on for a bit more to the downside.  Wheat had a wild week up and down but settled about where it started.  Flour pricing is starting to look fairly attractive, that has been a while coming.Savalfoods.com | Find us on Social Media: Instagram, Facebook, YouTube, Twitter, LinkedIn