Fccoop

MARKET COMMENTARY

AM Comments 05/04/15

Monday, May 4, 2015, 8:05 AM
Submitted by: Dustin Weiner


Our corn and soybean markets were mixed overnight.  Corn is trading lower and has been all night while soybeans are now trading higher after opening lower.  The trade is expecting a large jump in this afternoon’s planting progress report, US corn was 19% planted last week and it is expected to rise to approx. 50% - 55%! The 5-year average is 46%.  Soybean planting progress will also be out, it was 2% last week and should bump up to somewhere around 10% - 15%.  That report will be out after the close, until then weather will probably remain the key input and thanks to strong planting progress… the rainy forecasts in front of us are now bearish (negative) to prices, mainly corn and wheat. 

 

Opening Calls

Corn 2 to 3 cents lower

Soybeans 2 to 4 cents higher

 

Have a great day!

 

@fccoopgrain

 

 

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