Fccoop

MARKET COMMENTARY

AM Comments 6/1/15

Monday, June 1, 2015, 7:06 AM
Submitted by: Eric Kist


A negative start to the week and the month of June in the grain markets, as corn is down half a cent, and beans are down 7 cents overnight.  The entire soy complex is under pressure this morning, as there are reports that striking Argentine crushers and export workers have settled their strike and agreed on wage increases.  This is a negative input for beans, as demand for soybeans and soymeal which had shifted to the United States during the strikes will now return to Argentina, as South American beans will once again be at a discounted price to American beans. 

 

During the day Friday, the EPA released its initial proposals for the revision of the Renewable Fuels Standards.  For the 2016 calendar year, the EPA proposed a total renewable fuel target of 17.4 billion gallons, derived from an ethanol target of 14 billion gallons (down from 15 billion), and a bio-diesel target of 1.8 billion gallons (up from 1.28 billion in prior plan). 

 

Opening calls for today:

Corn: mixed/1-2 lower

Beans: 2-3 lower

 

Have a great day!

 

@fccoopgrain

 

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