PM Comments 6/25/2014
Wednesday, June 25, 2014, 3:06 PM
Submitted by: Joel Pudenz
It was another quiet day in the market today with corn continuing its trend lower and beans closing 2 to 4 cents higher. Monday’s report is on the front of traders’ minds as corn stocks are estimated to be 3.7 bln, 1 bln. stronger than last year at this time. Planted acreage is projected to stay at 91.7 mln acres nationally; any deviation from these estimates will almost certainly bring large price moves. Soybeans were similarly less volatile today as traders wait for Monday’s report and adjust positions to manage their risk accordingly. Bean stocks are estimated to remain tight and the market estimates acres to increase from 81.5 mln acres to 82.2 mln acres of soybeans planted. This stocks report will frame how the remainder of the 13/14 marketing year will trade.
Have a good afternoon!