Fccoop

MARKET COMMENTARY

AM Comments 07/06/15

Monday, July 6, 2015, 8:07 AM
Submitted by: Dustin Weiner


Our corn and soybean markets are both sharply lower after the 3-day weekend thanks to improving weather conditions (yes, a warm dry forecast is actually a good thing this year) and a $US that is firmer in response to the news out of Greece.  Greece’s no vote is a strong signal that Greece is likely to exit the Euro system which has the currencies, financials and commodities all in turmoil. Adding to the uncertainty is a Chinese stock market that has fallen 30% in the past 3 weeks (!!).  So… it’s safe to say that the trade a little skittish today and our corn and soybean markets are taking a step back.  While the Greece story is front page news, issues in China cannot be ignored…

 

We will get some fundamental news this afternoon (after the close) with the crop progress/conditions report.  U.S. corn ratings are expected to remain unchanged to maybe down a percent in the good-to-excellent categories while soybean should hold around unchanged from last Monday. 

 

Opening Calls

Corn 8 to 10 cents lower

Soybeans 15 to 20 cents lower

 

Have a great day!

 

@fccoopgrain

 

 

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