PM Comments 7/10/2014
Thursday, July 10, 2014, 4:07 PM
Submitted by: Joel Pudenz
Any attempts at price rallies quickly lost steam today with red settlements showing across the board. The story stays the same: favorable weather. Cool temps, good sunshine, and rain in the forecast. Everything looks favorable for corn pollination and our soil profiles are plenty charged with moisture going into the last half of July and August – this doesn’t give bulls much to talk about. Corn closed down 3 to 5 cents. Soybeans closed 14 cents lower in August and 11 cents lower in November. While soybeans don’t like exuberant amounts of moisture, some areas with excess rainfall haven’t affected the crop as a whole. The USDA will release the June S&D report tomorrow at 11:00.
Have a good night!