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John Roach's DAILY GRAIN MARKETING PLAN

Traders are not going to pay much attention to the USDA reports because the surge in oil is trumping today’s unsurprising grain fundamental update. Crude is up $5.00 at $146 on continued “I dare you” threats between Israel and Iran. In addition a rocky cease fire with rebels in Nigeria appears to be breaking down threatening their oil output. Grains are expected to open higher.

On today’s USDA report there was very little difference from what the trade expected going home last night. Corn and wheat supplies are growing and the already tight U.S. bean stocks are tightening slightly more. For a quick look at the number and comparison to trade estimates and last months report, click here. If you want to see more detail go to: http://www.usda.gov/oce/commodity/wasde/latest.pdf