Fccoop

MARKET COMMENTARY

AM Comments 10/24/14

Friday, October 24, 2014, 7:10 AM
Submitted by: Dustin Weiner


The corn and soybean markets are continuing to firm up this morning – with most of the strength coming from the soy complex.  Yesterday’s surprisingly large export sales reported on soybeans has temporarily pushed the focus off of production (big) and onto demand (also pretty big).  Annual export soybean demand is already projected to be a record this year and current crush margins at our domestic processing plants are stout which is causing traders to cover shorts.  While strong demand may seem initially bullish – this level of demand could/should be viewed as necessary because we have a huge soybean crop that is currently being put under roof.  We could be out searching for demand this summer…

 

Opening Calls

Corn 3 to 4 cents higher

Soybeans 6 to 8 cents higher

 

Have a great day!

 

@fccoopgrain

 

 

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