AM Comments 09/08/14
Monday, September 8, 2014, 7:09 AM
Submitted by: Dustin Weiner
The corn and soybean markets are both lower this morning, as a reduced risk for frost is allowing the trade to remove weather premiums out of the market. How the market closes today could hinge on the midday weather models – a colder outlook could inject a little life into the close but if they confirm reduced frost risk the markets will find additional selling pressure.
Other than that, not much else out there. There is a bit of macro discussion going on regarding the $US (which is approaching its highest levels in 14 months). Of course, a strong dollar adversely affects the competitiveness of the U.S. in the export corn/soybean markets which is not what we like to see as we prepare to handle what looks to be a record corn/soybean crop.
Corn 5 to 7 cents lower
Soybeans 6 to 9 cents lower
Have a great day!