Fccoop

MARKET COMMENTARY

PM Comments 7/21/2014

Monday, July 21, 2014, 3:07 PM
Submitted by: Joel Pudenz


Another day lower for corn and soybeans as favorable weather forecasts push corn down 7 cents and soybeans down 14 cents. While we might have a bit of heat this week, non-threatening temperatures and above-average precip. should cradle our crop through the end of July. Corn and soybean weekly export inspections were a bit light this morning, which certainly didn’t provide any support against the current downward trend. An announced old crop sale of soybeans to China seemed to prop up the front end of the soybean market as August beans only lost 1 cent on the day.

 

Crop ratings released at 3 o’clock were steady to slightly better from last week. National corn was steady at 76% G/E vs. 76% G/E last week. Iowa corn ratings improved by 1% from last week, up to 77% G/E. National soybeans improved 1% from last week, up to 73% G/E. Iowa soybeans also improved 1% up to 74% G/E. These were within trade expectations.

 

Have a good afternoon!

 

@fccoopgrain

 

 

 

G/E Crop Ratings: US and Iowa

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