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MARKET COMMENTARY

6-5-14 PM Comments

Thursday, June 5, 2014, 3:06 PM
Submitted by: Jon Setterdahl


Another day in the red for most commodities.  Funds were once again aggressive sellers of 6,000 corn contracts and 5,000 soybean contracts.  Funds are still long around 100,000 corn contracts, which is concerning given the lack of any major weather issues and moderating corn export forecasts.  Weather out two weeks looks normal to below on temps and normal to above on moisture for most of the Midwest.  Will be difficult to sustain much in the way of price recovery as long as the weather is this good and nothing new develops on the demand side.  Next Wednesday June11 is next USDA monthly supply/demand report. 

 

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