PM Comments 9/25/2014
Thursday, September 25, 2014, 4:09 PM
Submitted by: Joel Pudenz
After a positive close yesterday and higher trade last night, corn, soybean, and wheat futures turned negative today. Soybeans made new contract lows, closing 14 lower at $9.2275 on the board. Corn was able to bounce off contract lows, closing 3.5 cents lower at $3.26 on the board. Funds were sellers of both corn and soybeans today, adding pressure to commodities as we continue looking for levels of sustained support. The market continues to react to large reported yields from across the country. As harvest progress is moving north, yield reports are solidifying the opinion that this crop is only getting bigger. Let’s hope the rain forecasted for next week fails to materialize so we can all get this harvest truly kicked off.
Have a good night!