Rain Driving the Grain Markets’ Bus
Grain markets traded mostly lower in a holiday-shortened trading week to start July, with Canadian crops and HRW wheat contracts being the main winners.
Brennan Turner previously founded Combyne Ag, a grain accounting and crop marketing hub built to help producers make more informed decisions while on the go, via digitizing and unifying inventory, contracts, load tickets and settlements into a single app. He holds a degree in economics from Yale University and spent time on Wall Street in commodity trade and analysis before starting Combyne. In 2017, Brennan was named to Fast Company’s List of Most Creative People in Business and, in 2018, a Henry Crown Fellow as part of the Aspen Institute. He is originally from Foam Lake, Saskatchewan where his family started farming the land nearly 100 years ago (and still does to this day on more than 80,000 acres!). Brennan’s comments on grain markets are regularly featured in everything from small-town newspapers to large media outlets like CNBC and Bloomberg.
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Subscribe to Market InsiderGrain markets traded mostly lower in a holiday-shortened trading week to start July, with Canadian crops and HRW wheat contracts being the main winners.
Grain markets had an incredibly volatile finish to June as government acreage estimates for both Canada and the U.S. were released.
Grain markets saw profit-taking to end the third week of June as renewed weather forecasts included some moisture relief for a lot of dry areas across North America.
Grain markets rallied hard on Thursday and Friday last week as updated forecasts and drought monitoring maps suggest more of the same hot, dry weather.
Grain markets were mostly green in the first week of June as a relatively neutral monthly WASDE report quickly gave way to weather trade again.
Grain markets saw some heavy selling the last few days of March, before bargain buying and weather market bullishness rallied the complex for a mixed close.