Fccoop

MARKET COMMENTARY

AM Comments 10/20/14

Monday, October 20, 2014, 7:10 AM
Submitted by: Dustin Weiner


From the very start last night our markets were weaker and continued on that path throughout the night session and into this morning’s trade - we are currently pushing into new lows for the day as I type this.  When glancing back at last week’s trade, it starts to look more and more probable that the rallies we saw were driven by managed money accounts taking profits in their short positions (short covering).  If the funds have gotten that out of their system, and the outside market influences take a back seat this week… the focus should return to harvest progress and crop size which would cause the grain markets to slip lower with much opposition.

 

Opening Calls

Corn down 4 to 6 cents

Soybeans down 10 to 12 cents

 

Have a great day!

 

@fccoopgrain

 

 

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