Fccoop

MARKET COMMENTARY

AM Comments 07/18/14

Friday, July 18, 2014, 8:07 AM
Submitted by: Dustin Weiner


The turmoil in the Black Sea is adding additional risk to an already tough situation between Ukraine and Russia after a Malaysia Airlines plane was shot down in Eastern Ukraine midday yesterday.  There are more questions than answers out there and it isn’t easy to decipher propaganda from facts, at least not today.  If it is proven that Russia was responsible political leaders around the world will likely be quick to impose additional trade sanctions against them.  Of course these type of awful events leave initial shockwaves in a variety of markets – for example the DOW was down over 160 pts yesterday (it looks like equity markets are called steady so far this morning).  The initial reaction in not only commodities like crude/gold silver but also in our grain markets was to buy buy buy – especially corn and wheat.  Both of those have given back a few of those gains this morning but it wouldn’t be overly surprising if they trade higher between now and the 1:15pm close…

 

Other than that??? Not much going on.  The trade is expecting Monday afternoon’s crop ratings to remain unchanged or maybe show a slight improvement from the 76% G/E for corn and 72% G/E for beans that we saw earlier this week. 

 

Opening Calls

Corn steady to 2 cents lower

Soybeans 4 to 6 cents higher

 

Have a great day!

 

@fccoopgrain

 

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