AM Comments 06/19/14
Thursday, June 19, 2014, 8:06 AM
Submitted by: Dustin Weiner
The weekly export sales report was out this morning and generally speaking this report was negative for corn (sales were below expectations) and a bit positive for soybeans (sales were at or above expectations). Overall, not too exciting.
The soybean market has had a decent amount of positive news injected into this week – but has failed to mount any significant rallies. Corn has also had a couple bullish stories sprinkled in throughout the week (strong ethanol demand), but the market has done nothing more but maybe form a short-term bottom. It sure feels like the bullish old crop stories go in one ear and out the other – all eyes are focused on the new crop supply situation that continues to look great.
Corn 1 to 3 cents higher
Soybeans 1 to 3 cents higher
Have a great day!