AM Comments 6/2/15
Tuesday, June 2, 2015, 8:06 AM
Submitted by: Eric Kist
Higher markets as we enter the office this morning, as corn in currently up 2 ½ cents, and beans are 9 cents higher already, reversing yesterday’s negative trade. Outside markets appear to be the catalyst so far this morning, as the US $ is down hard against the Euro, and crude oil is trending higher, offering some support to grains.
Weekly crop progress reports released yesterday re-confirmed what we already knew—the majority of this year’s crop is in the ground, and early-season plant conditions are faring well.
Expect another calm/sunny day today, but prepare for another round of precipitation Wednesday/Thursday, as chances of thunderstorms appear to be building again for central Iowa.
Opening calls for today’s trade:
Corn: 1-2 higher
Beans: 2-3 higher
Have a great day!