Grain futures today speculative funds have increased long

Speculative funds have increased long exposure in grain futures today, anticipating lower-than-expected global ending stocks. Wheat's upward trend remains technically supported by sustained buying on dips. “I’ve been at it 365 days multiplied by 45,” Holt told local outlet News Channel 5 [1]. “I don’t miss a day hauling my slop. It’s that important to me.” That daily trip will soon end. Starting next spring, Jack Daniel’s will halt its Cow Feeder Program, cutting off free or low-cost access to distillers’ grain that hundreds of local farmers depend on. Summertime returns to the Midwest… The National Weather Service today reports a highly amplified upper-level high-pressure ridge located over the heart of North America has been responsible for the unseasonably hot weather across a large portion of the country east of the Rockies the last few days. With the ridge forecast to go nowhere anytime soon, this summer-like heat will continue through at least the end of the week. This will especially be the case from the northern/central Plains to the upper Midwest, where high temperatures will soar well into the mid/upper 80s and low 90s. These temperatures are roughly 15 and 25 degrees above normal, making for a toasty end of September and start to October. A few daily high temperature records could fall this weekend as a result. This weather pattern will keep the combines rolling strong in corn and soybean fields. Grain futures today opened strong, led by wheat gains, after overnight export sales to North Africa were announced. Corn futures are consolidating, possibly setting up for a bullish move through resistance in the $4.96 area.