AM Comments 06/15/15
Monday, June 15, 2015, 7:06 AM
Submitted by: Dustin Weiner
As you look at the markets this morning, you will see that corn, soybeans, wheat, crude oil, and many other commodities are trading mixed to mostly lower. Greece talks broke down over the weekend meaning that concerns over a Greek default remain and the $US is rallying because of it. As for weather, while there are many localized conversations expressing concern over too much rain, the idea that “rain makes grain” is still taking precedent in the marketplace as futures are finding little resistance on the way back down. As we sit this morning, November soybean futures and December corn futures have both slipped to near contract lows.
The USDA will have another crop conditions and progress report out this afternoon – soybean planting is expected to be between 85 and 88% complete, probably still a touch behind the recent 5-year average. Corn conditions are expected to
be around 73-75% good-to-excellent in the conditions portion of the report.
Corn down 2 to 3 cents
Soybeans down 4 to 7 cents
Have a great day!