Fccoop

MARKET COMMENTARY

AM Comments 06/13/14

Friday, June 13, 2014, 8:06 AM
Submitted by: Dustin Weiner


In what will likely be written off as just a short-covering bounce – both corn and soybeans are trading higher this morning.  This feels awfully similar to last Friday when traders bailed out of their short positions (which pushed corn 10c higher that day) before the weekend only to sell the market off again Monday, taking the gains back.

 

The weather forecasts still look great although everybody is watching another severe storm system that is due to hit Nebraska this Saturday night (map below) that could once again bring large hail to that part of the country.  Those that miss the hail however could get a nice 1-2” rain out of the deal…

 

Opening Calls

Corn 2 to 3 cents higher

Soybeans 3 to 5 cents higher

 

Have a great day!

 

@fccoopgrain

 

 

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