Fccoop

MARKET COMMENTARY

AM Comments 06/17/15

Wednesday, June 17, 2015, 8:06 AM
Submitted by: Dustin Weiner


After the nice short-covering rally yesterday the overnight session moved higher again as weather premium is coming into the market thanks in part to Tropical Storm Bill which looks to drop some heavy rains across the Southern US.  Even though this storm has been downgraded, it can still drop 1-3” of rain in places with 4+” rains easily attainable.  Also contributing to the rally in commodities is the weaker $US which is helping crude oil push back up near $61/barrel.  The financial traders are waiting to hear comments from the Fed this afternoon, the FOMC committee of the Federal Reserve is concluding its 2-day meeting today and will release their comments afterwards.  Those comments could give the $US some direction as it has been in a sideways/lower pattern the last few days.

 

Opening Calls

Corn 2 to 4 cents higher

Soybeans 4 to 7 cents higher

 

Have a great day!

 

@fccoopgrain

 

 

 

 

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