A.M. Comments 6/5/2014
Thursday, June 5, 2014, 8:06 AM
Submitted by: Joel Pudenz
The corn and soybean markets were mixed at the 7:45 break this morning with corn and old crop beans lower, and new crop beans higher. The weekly export sales report showed corn exports on the high end of estimates; soybeans were net positive, but within expectations. Both are supportive to corn and beans, but with weather continuing to stay favorable, we will likely see a mixed trade into next week. The 3-day forecast shows Iowa receiving additional rainfall. On June 11th the USDA will release the monthly Supply & Demand estimate – few changes from last month are expected.
Corn steady to 2 cents lower
Beans mixed: Nearby 6 cents lower, November a penny higher
Have a great day!