Fccoop

MARKET COMMENTARY

AM Comments 06/08/15

Monday, June 8, 2015, 7:06 AM
Submitted by: Dustin Weiner


The corn and soybean markets are experiencing a bit of a bounce this morning on little news. From what I can gather, most of the credit for the higher move is coming from A) planting delays in certain areas (too wet) and B) a slightly weaker U.S. Dollar. 

 

This afternoon (after the close) the weekly Crop Progress/Conditions report will be released.  The trade is expecting soybean planting to be just over 80% completed with initial crop conditions coming in between 68% and 72% “good-to-excellent”.  Corn conditions are expected to remain the same as last week at 74% good-to-excellent.  The planting delays that the market is discussing seem to be centered around the SW Iowa, SE Nebraska, NW Missouri and NE Kansas area. Unfortunately I am hearing that those producers may only be a couple of poorly-timed rains away from not getting a crop in the ground this year…

 

Opening Calls

Corn 2 to 3 cents higher

Soybeans 3 to 6 cents higher

 

Have a great day!

 

@fccoopgrain

 

 

 

 

 

 

 

 

 

 

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