AM Comments 08/27/14
Wednesday, August 27, 2014, 8:08 AM
Submitted by: Dustin Weiner
The soybean market is bouncing higher today after making new contract lows yesterday. This rally this morning could end up being nothing more than profit taking, but it is still nice to see. U.S. soybean yields in the Delta look fantastic and good weather has allowed them to get it out of the field without issues. This of course has pressured soybean basis in the South, which will slowly work its way North here soon as the inverse collapses.
Overall for today we expect a choppy two-sided trade on very little news. One thing to think about: in the eyes of the trade potential crop sizes if anything are still growing, not shrinking which should keep somewhat of a lid on the market.
Corn 2 to 3 cents lower
Soybeans 2 to 4 cents higher
Have a great day!