AM Comments 09/05/14
Friday, September 5, 2014, 8:09 AM
Submitted by: Dustin Weiner
Soybean futures are leading the bounce higher this morning as Nov futures seem to be finding some buying interest at around $10 on the board – most other news is quiet. Export sales were out this morning and were slightly below what the trade was estimating – nothing to see here.
I put the 6-10 day temp map at the bottom of these comments – you will see that it looks a little intimidating on a map when you look at the cold snap pegged for late next week. Overall the market isn’t too concerned, but it could lend a little bit of a bullishness tone to the market. The second map is the 8-14 day precip map – I put that on there because WOW! We haven’t had below normal precip for a good 45 days at least and now we are forecasted to be dry towards the end of September? Just what the doctor ordered.
Corn steady to 2 cents higher
Soybeans 3 to 5 cents higher
Have a great day!