Fccoop

MARKET COMMENTARY

AM Comments 09/11/14

Thursday, September 11, 2014, 8:09 AM
Submitted by: Dustin Weiner


Today is report day – at 11AM we will have the September S&D report from the USDA.  The markets are on the defensive ahead of it as soybeans made new contract lows last night while corn is still bouncing on its contract lows.  As mentioned here before, the trade is leaning towards increased carryouts in both corn and soybeans (details below).  You have to wonder, if the USDA confirms these bigger carryouts – is there still downside potential from here?  Or maybe the market has done enough work and will wait for yield reports to roll in before working lower.  We will all be a lot smarter in just under 3 hours…

 

Opening Calls

Corn down 2 to 3 cents

Soybeans down 3 to 4 cents

 

Have a great day!

 

@fccoopgrain

 

 

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