Fccoop

MARKET COMMENTARY

AM Comments 06/16/14

Monday, June 16, 2014, 8:06 AM
Submitted by: Dustin Weiner


It is a bit of a mixed bag so far this morning – old crop beans are higher while new crop beans are lower.  The monthly NOPA soybean crush report will be released at 11am today and the trade is expecting to see big crush numbers on this report (which would explain while old crop beans are rallying vs new crop).  

 

Corn is quiet this morning and is trading near steady – maybe up a penny.  Overall the weather still looks great for crop development (crop ratings will be out this afternoon that will likely reflect that).  If the weather continues to stay benign, Dec corn should go test its contract lows that were made back in January.  However, for now corn feels like it is taking a breather from all the selling, on Friday it rallied off the lows made mid-last week and today it is trying to hold onto those gains.

 

Opening Calls

Corn steady to 1c higher

Soybeans steady to 5c higher

 

Have a great day!

 

@fccoopgrain

 

 

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