AM Comments 06/10/15
Wednesday, June 10, 2015, 8:06 AM
Submitted by: Dustin Weiner
The market looks to open mixed to a little firmer this morning with wheat and soybeans trading higher on concerns over wet weather. The USDA will have the June S&D report out later this morning which will give the market a little direction for the near future. Generally speaking the trade is expecting old crop soybean carryout projections to shrink a bit while the old crop corn carryout is expected to have very little change – maybe a slight increase. I wouldn’t expect any major changes in carryout projections for next year, as it is a little too early to tweak production numbers. At the end of June we will get the final planted acreage report which is what will get the ball rolling on any major shifts in estimated production for this coming fall.
Soybeans 3 to 5 cents higher
Have a great day!