Fccoop

MARKET COMMENTARY

AM Comments 7/23/2014

Wednesday, July 23, 2014, 8:07 AM
Submitted by: Joel Pudenz


Corn and soybean futures were relatively quiet overnight, trading mixed to slightly higher into the break at 7:45. However, Dec corn and Nov soybeans did inch low enough to make new contract lows – continuing our trend lower due to outstanding growing conditions. New fundamental news is sparse and the news we have all points to the same thing… big corn and soybean crops. Private crop tours are confirming this potential, with the Doane Crop Tour projecting Illinois yields at 193 pba for corn and upper 50’s/lower 60’s for soybeans. These would both be records for Illinois. Our weather looks to turn cooler again next week with a few chances of rain this weekend.

 

Have a great day!

 

Opening calls:

Corn steady to slightly higher

Beans 2 to 4 higher

 

@fccoopgrain

 

 

 

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