Fccoop

MARKET COMMENTARY

AM Comments 05/27/14

Tuesday, May 27, 2014, 7:05 AM
Submitted by: Dustin Weiner


Corn and soybean futures are lower this morning - actually grains in general are weaker as this afternoon’s weekly planting progress report is expected to show good progress.  Feels like corn planting should be right around 90% complete (87% is the 5yr average) while soybean planting should be around 60% complete (55% is the 5yr average).  As you can see in the weather map below ,wetter weather is coming in the 6-10 day forecast while the short term forecast calls for a few more days of general dryness which for all intents and purposes should put an end to the planting season.  The crops are off to a good start and the markets are starting to reflect that…

 

Generally speaking this looks like a rough start to the short 4-day trading week.  The funds are long both corn and soybeans and with excellent weather forecasts it will be a tough battle if we are to see much in the way of higher prices.  This is a choppy time of year, one change in an extended weather forecast and the market can move aggressively one way or the other – usually making everybody look foolish in the process.

 

Opening Calls

Corn down 5 to 7 cents

Soybeans down 10 to 15 cents

 

Have a great day!

 

@fccoopgrain

 

 

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