AM Comments 9/26/2014
Friday, September 26, 2014, 8:09 AM
Submitted by: Joel Pudenz
The trend lower has carried over from last night as we look at lower corn, soybean, and wheat futures this morning. Outside of expectations of large productions, pressure is coming from rumors of China suspending the import approval process for genetically modified soybeans (low public acceptance in China is cited as the reason for the potential suspension). We’ve got some conflicting weather opinions this morning – go figure. The Global Forecast System (GFS) is calling for wetter/cooler weather while others are forecasting warmer and drier. Let’s hope for the latter of the two. Look for commodities to remain under pressure into the weekend with robust yield reports and an ever strengthening dollar.
Have a good day!