Newsletter May 27

GRAIN PIT NEWS

• Old Corn +13.0, New Corn +7.75, Old Beans -5.0, New Beans -4.0 (all in cents)
•  Another good day for corn but not as good for beans.
• Risk of a bullish weather turn outweighed rish of a turn for dryer cornbelt weather over an extended weekend.
• First crop condition ratings of the year will be out Tuesday.
• The focus for US producers has clearly been on corn with soybeans a distant second.
• Funds bought 7,000 contracts and sold 3,000 contracts of beans today.

• Talk about a sideways trade - July corn was up 1 cent while July soybeans were down 1/2 cent for the week.  Weather IS the news, its just that nobody know for sure what the weather is going to do and the big traders change their minds daily.  December corn made new contract highs again today.
• Salem Grain will be closed Monday, May 30th in observance of Memorial Day.
  
• I can't figure out how to copy and paste the bid sheet on our new web site so please give us a call.