Fccoop

MARKET COMMENTARY

AM Comments 07/22/14

Tuesday, July 22, 2014, 8:07 AM
Submitted by: Dustin Weiner


As many of you may have seen or heard yesterday afternoon -- crop ratings were released and this year’s corn and soybean crops remain the highest rated crops since 1994.  Corn conditions stayed the same (76% G/E) while soybeans improved 1%, now at 73% G/E.  This is normally the time of year where rating start to decline…

 

So, with crop ratings looking so good, markets should be down right?  Not so fast - soybeans are trading sharply higher based on strength in the old crop cash market and corn is trading a touch higher – maybe it’s because the basis at the US gulf is a little firmer but the more probable reason is that it can’t always be trading in the red, can it? CAN IT?

 

Opening Calls

Corn steady to 2 cents higher

Soybeans 10 to 15 cents higher (old crop), 3 to 5 cents higher (new crop)

 

Have a great day!

 

@fccoopgrain

 

 

 

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