AM Comments 09/24/14
Wednesday, September 24, 2014, 7:09 AM
Submitted by: Dustin Weiner
Rain showers are moving across IA this morning which should put a temporary stop to the early harvest that had started over the last few days. The markets are bouncing a bit higher this morning, led by wheat futures. Rallies could be difficult to hold however, as both corn and soybeans are still near their contract lows and yield reports are showing no signs of slowing down.
Overall for today, the bulls are hoping that this little overnight rally is a sign that the selling will be done for a bit. It feels like with the weather stopping harvest in the West, this market might actually hold above steady today. I still worry about these prices on Friday afternoon, ahead of what looks like it could be a big harvest weekend…
Corn 1 to 2 cents higher
Soybeans 2 to 4 cents higher
Have a great day!