distraction ? distraction ?
after all we're just another commodity and the machines are very fickle indeed
here is where the action IS
BNN Morning Newsletter: July 11, 2012
Keeping a close eye on commodities
The chase by Marty Cej:
Today will be a key day for commodities. The U.S. Department of Agriculture is expected to slash its estimate for this year's corn crop as a drought across the Midwest continues to wither the crop on the stalk. Corn prices have soared 23 percent so far this year, lagging the 30 percent rally by soybeans, which are climbing as crops wilt as well. Wheat is up 16 percent so far this year. The USDA report will also have big implications for shares such as Potash and Agrium amid expectations farmers will have to boost their yields next year to make up for this year's shortfall. Also keep an eye on Monsanto, whose patented genes are inserted into roughly 95 percent of all soybeans and 80 percent of all corn grown in the U.S. The report is due out at 8:30 am Eastern.