AM Comments 8/26/2014
Tuesday, August 26, 2014, 8:08 AM
Submitted by: Joel Pudenz
The market is fairly quiet this morning, showing weaker futures for corn and soybeans. New crop soybeans are lower at the break (and made new contract lows overnight), reflecting friendly weather and steady/strong soybean crop ratings. Pod setting is 90% vs. 89% on average. As we near the start of September, we know a later-than-average fall will be needed – nothing is showing us that we will receive anything different. Corn ratings improved from last week by 1% nationally, pressuring new crop prices. We anticipate the market to trade steady to lower throughout the day – which won’t make much of a Turnaround Tuesday.
Have a good day!