Fccoop

MARKET COMMENTARY

AM Comments 10/14/14

Tuesday, October 14, 2014, 7:10 AM
Submitted by: Dustin Weiner


The markets traded mixed overnight but spent a majority of the time trading higher on follow through buying after yesterday’s strong performance.  When the markets slipped above last week’s high last night, stops were triggered and prices jumped even higher with soybeans quickly posting double digit gains.  While most of today’s higher move is technical in nature (read: chart-related) the bulls in the market are talking about how this rain moving across the U.S. is delaying harvest and justifying higher prices.  I feel that at some point the market will move its focus off of the current radar and onto the extended forecasts which show nearly 2 weeks of below normal precip.  If that is the case, rallies like this are likely meant to be sold…

 

Opening Calls

Corn steady to 2c higher

Soybeans 9 to 12 cents higher

 

Have a great day!

 

@fccoopgrain

 

 

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