AM Comments 05/16/14
Friday, May 16, 2014, 8:05 AM
Submitted by: Dustin Weiner
Temps dropped down below freezing into Nebraska and parts of Northwest Iowa this morning. Some report are saying that up in Le Mars, IA (NW corner) temps dropped as low as 23 degrees! The market is paying a whole lot of attention to that though in terms of higher prices. Actually, with the forecasts trending warmer and remaining mostly dry over the weekend and into next week – prices are on the defensive this morning.
Other than that – it is quiet. It should be a good weekend for field work to progress which tends to soften prices as we approach the close. Monday afternoon’s planting progress report will be interesting to read, mainly to see the NW corn belt’s progress (or lack thereof). This weekend will be important for them to catch up.
Corn 1 to 3 cents lower
Soybeans 1 to 3 cents lower
Have a great day!
Pics below represent weather outlooks from NOAA for June/July/August: