Fccoop

MARKET COMMENTARY

AM Comments 03/24/15

Tuesday, March 24, 2015, 8:03 AM
Submitted by: Dustin Weiner


After two impressive sessions in a row (corn: +16c, soybeans: +20c since Thursday PM), not surprisingly there was some backfilling in the charts taking place last night as both corn and soybeans were trading a bit lower when I walked in this morning.  That is probably healthy for the charts to see things take a step back after taking two steps forward.  Be aware that if the $US is truly going to correct itself lower – the commodity markets should still have upside potential in them.  The $US is down another .2% this morning.

 

Fundamentally, not much for new news.  The weekly planting progress was out last night and of course is only relevant for the far South.  Texas is showing 14% of its corn has been planted (vs 37% on average) while Louisiana corn is only 1% planted (vs 48% average).  A nice rain system will be welcomed for dry parts of the Midwest, bringing moisture today and tomorrow. 

 

Opening Calls

Corn steady to 1 cent lower

Soybeans 2 to 4 cents lower

 

Have a great day!

 

@fccoopgrain

 

 

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