Weekly grain report

7/18/12: Chicago grain futures traded lower most of the morning on profit-taking, but no significant changes were made to the weather forecasts. Things reversed higher after the Ag Secretary said there would be no revision to the renewable fuel standard. For now the government is standing pat, but they could always change their mind down the road as the corn crop continues to deteriorate.

7/19/12: It’s starting to get weird out there. There was lots of action in the spreads in the grain futures markets, especially on the close. Spreads are the difference in price between contracts that are tra...