PM Comments 8/21/2014
Thursday, August 21, 2014, 4:08 PM
Submitted by: Joel Pudenz
Corn futures were able to settle a penny higher on the close, trading mixed on the day. Old crop (September) futures closed 3 cents higher as cash values continue their firmer trend. Much of Iowa received rain today with some needed warmer temps (and GDUs) forecasted through the weekend and more rain coming through next week. These August rains we’ve been getting are friendly to soybean yields – which is adding more pressure to a market that expects record production. November soybeans closed even to slightly lower, trading a quiet 12 cent range on the day. Old crop soybean cash values are extremely firm as end users attempt to find whatever old crop beans remain unspoken for.
Sept corn closed 3 cents higher
Dec corn closed 1.5 cents higher
Sept beans closed 16 cents higher
Nov beans closed ¼ cent higher
Have a good night!