Fccoop

MARKET COMMENTARY

AM Comments

Friday, July 25, 2014, 8:07 AM
Submitted by: Joel Pudenz


We’ve got some red showing on the screen this morning as corn and soybean futures are both lower at the morning break. Parts of Iowa and Minnesota received some nice rains overnight which are timely with a dryer two week forecast ahead – and puts some pressure on grain prices. A couple export sales were announced this morning that may give the market a bit of excitement at the open: 360K tonnes of new crop beans to China and 246K tonnes of corn to Mexico. As we saw yesterday, support from export sales quickly lost ground as the trade returned its focus to a big harvest this fall.

 

Opening calls:

Corn 2 to 3 lower

Soybeans 7 to 10 lower

 

Have a great day!

 

@fccoopgrain

 

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