MARKET COMMENTARY

The markets are under pressure this morning after rains slipped further east than expected (into northern Illinois and southern Wisconsin) and crop ratings (in soybeans in particular) were better than expected last night.  What also has the market leaning bearish are the production estimates being released from different private companies.  Yesterday we had FCStone come out with a 172.4 bpa yield for the US, which pencils out to a 14.455 billion bushel crop (fyi that is big).  Informa will be out today with their numbers – if they also show a big crop, corn and beans could slip lower once again.

Opening Calls

Corn 3 to 4 cents lower

Soybeans 15 to 20 cents lower

Have a great day!

@fccoopgrain