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MARKET COMMENTARY

6-9-14 PM Comments

Monday, June 9, 2014, 5:06 PM
Submitted by: Jon Setterdahl


Well, the market quickly reversed last Friday’s one-day rally with lower prices today due to continuation of good weather.  Weekly crop ratings out this afternoon have corn at 75% G/E nationally (IA 82%) and soybeans at 74% G/E nationally (IA 81%).  Weekly export sales were out this morning with numbers as expected.  USDA monthly supply/demand report will be out this Wednesday 11am.  Probably too early for any yield adjustments due to good weather, and the acreage/stocks report will be out June30.  July would be the more likely month for any significant ’14-’15 balance sheet changes….by then acreage is pretty much settled and we have another month of weather to evaluate.  Steady calls for the opening tonight.

 

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