AM Comments 06/30/15
Tuesday, June 30, 2015, 7:06 AM
Submitted by: Dustin Weiner
The overnight session is mixed this morning as the trade awaits the Quarterly Stocks and Plantings reports. Both corn and soybeans spent time trading higher last night – but soybeans have since turned around to slip lower while corn is hovering around unchanged. The $US is sharply higher this morning which could be the early reason for the weakness in our commodities – however, ‘outside market influences’ shouldn’t remain the driver for long today as the trade will receive an injection of fundamental news right at 11am.
Weather… the weather models this morning seem to be showing the precip shifting south, which – while not friendly to the producers in that area – is welcome news for some of the higher producing parts of the corn belt as they (finally) miss a rain. The heavy rainfall now looks to hit across the far southern part of Illinois, Missouri, Tennessee, Kentucky and NE Arkansas.
Soybeans down 6 to 9 cents
Have a great day!