Fccoop

MARKET COMMENTARY

PM Comments 9/4/2014

Thursday, September 4, 2014, 4:09 PM
Submitted by: Joel Pudenz


Today is the second day in a row that new crop months for corn, soybeans, and wheat are all making new contract lows. Private production estimates coupled with early yield reports pushed all three commodities lower today as we are one day closer to realizing these potentially record large crops. The biggest remaining threat would be frost in the next few weeks (chances are low according to NOAA and other forecasts). Another negative input into today’s market was a sharply higher dollar due to some interest rate adjustments in Europe. Look for corn and soybean futures to remain under pressure into the weekend, barring any surprises that would shrink our potential crop size.

 

Corn closed 5 cents lower

Soybeans closed 16 cents lower

 

Have a good night!

 

@fccoopgrain

 

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