6-26-14 AM Comments
Thursday, June 26, 2014, 8:06 AM
Submitted by: Jon Setterdahl
Good Morning. Weekly export sales out this morning neutral on corn with 12.7Mln old crop and 9.1Mln new crop sales reported. Soybean sales are friendly…old crop sales were 11.7Mln and new crop 16.8Mln. One has to wonder where the additional old crop beans will come from. Possible that last year’s crop size was understated…or that soybean imports this year are understated. In any event, beans will be higher today led by old crop months. Corn slightly higher this am as well. Weather continues to look good for crops. Two rain event chances the next few days with non-threatening temps. Reminder that next Monday June30 is important USDA stocks/acreage report.
Market calls upon 8:30 re-open: beans up 10+ (old crop), new crop up 5-8. Corn up 1-2 cents.