Fccoop

MARKET COMMENTARY

AM Comments 06/05/15

Friday, June 5, 2015, 8:06 AM
Submitted by: Dustin Weiner


Earlier this morning the corn and soybean markets were trading steady/higher but when the U.S. jobs report was released at 7:30, the $US rallied sharply and corn and soybeans sold off immediately.  The jobs report showed 280k jobs being created in May and the market was expecting 220k (although unemployment rose from 5.4% in April to 5.5% in May).

 

Next Wednesday the June S&D will be released which could inject a bit of ‘new’ fundamental news into our markets.  Until then however, direction is hard to find.  The grain markets have been following the money flow and it will be interesting to see how the day closes as our corn and soybean have had a decent week so far with both markets up around a dime since last Friday’s close.

 

Opening Calls

Corn down 2 to 3 cents

Soybeans down 3 to 4 cents

 

Have a great day!

 

@fccoopgrain

 

 

 

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