GO
Loading...

Ag Traders Eye Thursday Grain Report

With the wheat market heading toward its worst slump since 2008, ag traders are eagerly anticipating the latest grain report due Thursday.

What should you expect?

Dennis Gartman says the June 30th crop report is usually the most important one of the year because it shows how much acreage has been planted, how well we got the crop into the ground and how nicely it's progressing.

However, considering grains have traded sharply lower, this time the crop report may not be all that market moving.

Gartman tells us "I can't imagine them going much lower than where they are right now. Unless the world goes into an economic recession the demand should continue."

What's the play?

Joe Terranova think the play is long CF Industries as a bullish bet on corn.

Pete Najarian says don't forget about Monsanto !

Check out our entire conversation with esteemed commodities investor Dennis Gartman. Watch the video now!




______________________________________________________
Got something to to say? Send us an e-mail at fastmoney-web@cnbc.com and your comment might be posted on the Rapid Recap. If you'd prefer to make a comment, but not have it published on our Web site, send those e-mails to fastmoney@cnbc.com.


Trader disclosure: On June 28, 2011, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Weiss owns (TWM); Weiss owns (DE); Weiss owns (CMA); Weiss owns (KEY); Weiss owns (QCOM); Weiss owns (NAV); Weiss owns (EMC); Weiss owns (MSFT); Weiss owns (HK); Weiss owns (COP); Weiss owns (AKAM); Weiss owns (ETP); Weiss owns (NS); Weiss owns (VZ); Pete Najarian owns (AAPL); Pete Najarian owns (C); Pete Najarian owns (MSFT); Pete Najarian owns (MS); Pete Najarian owns (MOS); Steve Grasso owns (AKS); Steve Grasso owns (AMD); Steve Grasso owns (ASTM); Steve Grasso owns (BA); Steve Grasso owns (BAC); Steve Grasso owns (C); Steve Grasso owns (D); Steve Grasso owns (HOV); Steve Grasso owns (JPM); Steve Grasso owns (LIT); Steve Grasso owns (LPX); Steve Grasso owns (MHY); Steve Grasso owns (NDAQ); Steve Grasso owns (PFE); Steve Grasso owns (PRST); Terranova Owns (VRTS); Terranova Owns (IBM); Terranova Owns (FCX); Terranova Owns (CVI); Terranova Owns (F); Terranova Owns (AAPL); Terranova Owns (CAT); Terranova Owns (BX); Terranova Owns (HPQ); Terranova Owns (MA); Terranova Owns (PEP); Terranova Owns (MCD); Terranova Owns (JWN); Terranova Owns (TM); Terranova owns (MSFT); Terranova Owns (LULU); Terranova Owns (WFM); Terranova Owns (DAR); Terranova Owns (BJ); Terranova Owns (HAS); Terrnaova owns (DIS); Terranova Owns (XOM); Terranova Is Short (DELL)

For Dennis Gartman
Gartman is short the Euro
Gartman is long Gold

For Steve Grasso:
Stuart Frankel & Co and it’s partners own (AAPL)
Stuart Frankel & Co and it’s partners own (ABX)
Stuart Frankel & Co and it’s partners own (CSCO)
Stuart Frankel & Co and it’s partners own (CUBA)
Stuart Frankel & Co and it’s partners own (GERN)
Stuart Frankel & Co and it’s partners own (HPQ)
Stuart Frankel & Co and it’s partners own (HSPO)
Stuart Frankel & Co and it’s partners own (MU)
Stuart Frankel & Co and it’s partners own (MSFT)
Stuart Frankel & Co and it’s partners own (NYX)
Stuart Frankel & Co and it’s partners own (PFE)
Stuart Frankel & Co and it’s partners own (PRST)
Stuart Frankel & Co and it’s partners own (RDC)
Stuart Frankel & Co and it’s partners own (QQQQ)
Stuart Frankel & Co and it’s partners own (XRX)
Stuart Frankel & Co and it’s partners own (SDS)

For Mike Khouw
Cantor Fitzgerald is a market maker in (AKS)
Cantor Fitzgerald is a market maker in (AAPL)
Cantor Fitzgerald is a market maker in (BAC)
Cantor Fitzgerald is a market maker in (C)
Cantor Fitzgerald is a market maker in (FTO)
Cantor Fitzgerald is a market maker in (GM)
Cantor Fitzgerald is a market maker in (GS)
Cantor Fitzgerald is a market maker in (GOOG)
Cantor Fitzgerald is a market maker in (IBM)
Cantor Fitzgerald is a market maker in (JPM)
Cantor Fitzgerald is a market maker in (LNKD)
Cantor Fitzgerald is a market maker in (MRO)
Cantor Fitzgerald is a market maker in (MA)
Cantor Fitzgerald is a market maker in (MSFT)
Cantor Fitzgerald is a market maker in (MWW)
Cantor Fitzgerald is a market maker in (MS)
Cantor Fitzgerald is a market maker in (MMI)
Cantor Fitzgerald is a market maker in (NAV)
Cantor Fitzgerald is a market maker in (ORCL)
Cantor Fitzgerald is a market maker in (P)
Cantor Fitzgerald is a market maker in (PTEN)
Cantor Fitzgerald is a market maker in (POT)
Cantor Fitzgerald is a market maker in (XHB)
Cantor Fitzgerald is a market maker in (SYMC)
Cantor Fitzgerald is a market maker in (X)
Cantor Fitzgerald is a market maker in (PAY)
Cantor Fitzgerald is a market maker in (V)
Cantor Fitzgerald is a market maker in (WFC)

For Joe Terranova
Terranova is Chief Market Strategist of Virtus Investment Partners, LTD
Virtus Investment Partners Owns More Than 1% Of (ABAX)
Virtus Investment Partners Owns More Than 1% Of (AMKR)
Virtus Investment Partners Owns More Than 1% Of (CCG)
Virtus Investment Partners Owns More Than 1% Of (CASS)
Virtus Investment Partners Owns More Than 1% Of (CSVI)
Virtus Investment Partners Owns More Than 1% Of (EXR)
Virtus Investment Partners Owns More Than 1% Of (FCFS)
Virtus Investment Partners Owns More Than 1% Of (IGE)
Virtus Investment Partners Owns More Than 1% Of (KRC)
Virtus Investment Partners Owns More Than 1% Of (LDR)
Virtus Investment Partners Owns More Than 1% Of (LHO)
Virtus Investment Partners Owns More Than 1% Of (NRCI)
Virtus Investment Partners Owns More Than 1% Of Sun Pharmaceutical Industries Ltd.
Virtus Investment Partners Owns More Than 1% Of (DBV)
Virtus Investment Partners Owns More Than 1% Of (XLB)
Virtus Investment Partners Owns More Than 1% Of (XLV)
Virtus Investment Partners Owns More Than 1% Of (XLP)
Virtus Investment Partners Owns More Than 1% Of (XLY)
Virtus Investment Partners Owns More Than 1% Of (XLE)
Virtus Investment Partners Owns More Than 1% Of (XLF)
Virtus Investment Partners Owns More Than 1% Of (XLI)
Virtus Investment Partners Owns More Than 1% Of (XLK)
Virtus Investment Partners Owns More Than 1% Of (XLU)
Virtus Investment Partners Owns More Than 1% Of (SUBK)
Virtus Investment Partners Owns More Than 1% Of (WDFC)
Virtus Investment Partners Owns More Than 1% Of (YDNT)
Virtus Investment Partners Owns More Than 1% Of DOMINO'S PIZZA UK & URL PLC



CNBC.com with wires.

Contact Fast Money

  • Showtimes

    Halftime Report - Weekdays 12p ET
    Fast Money - Weekdays 5p ET

Halftime Report