Wednesday, August 13, 2014, 8:08 AM
Submitted by: Joel Pudenz
Corn and soybeans are both showing green this morning after a relatively quiet overnight trade. Opening calls have corn steady to a penny higher and soybeans 2 to 5 higher. Yesterday’s report was supportive to corn (due to lower-than-expected yields and production) and we see some of that carrying over into today. A weaker dollar adds a touch of support as well this morning as corn feels to be range bound – at least in the short term. Weather (which is becoming less and less of an input) looks good/cool through this weekend with chances of rain hitting most of the Midwest. Key dry areas like Northeast Iowa, Southern Minnesota, Wisconsin, and Northwest Illinois are forecasted to get some nice rains as well. Warmer temps should follow in the coming weeks to finish off the month of August.
Have a great day!
6-10 day temperature and precipitation outlooks: