Fccoop

MARKET COMMENTARY

AM Comments 05/26/15

Tuesday, May 26, 2015, 7:05 AM
Submitted by: Dustin Weiner


The corn and soybean futures markets are slightly lower this morning. The markets did start the session higher last night, but gave up that strength when the $US started rallying (it is still firmer this morning) which pressured all commodities.  This initial surge higher was tied to a wheat market which is trying to figure out what to make of this southern plains situation. While it is a gross understatement that the folks in certain parts of wheat country could use some dry weather – what this means to flat price is still unknown as bushels are being taken away in some areas while being added in others.

 

For today in regards to corn/soybeans – the old phrase “rain makes grain” is still in play and it is best to consider rain events bearish to prices for now.  The planting progress and crop conditions report will be out later this afternoon.  This will be the first look at good-excellent ratings in corn and all signs point to high marks (over 75% G-E is expected!!). 

 

Opening Calls

Corn 1 to 3 cents lower

Soybeans steady to 2c lower

 

Have a great day!

 

@fccoopgrain

 

 

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