Fccoop

MARKET COMMENTARY

AM Comments 07/15/15

Wednesday, July 15, 2015, 8:07 AM
Submitted by: Dustin Weiner


The grain markets were under pressure again last night with corn and soybeans both attempting to trade higher before giving in and slipping lower into the 7:45am market pause. The weather outlooks continue to improve a bit for the U.S. and with yesterday’s lower move being considered a ‘key reversal’ on a corn chart – the trade is starting to get nervous that the new longs in the market will continue to liquidate some of their positions. The funds are now long corn and yesterday they were estimated to be sellers of 18k contracts (90 million bushels) of corn. We will see if that continues today…

 

Opening Calls

Corn 2 to 3 cents lower

Soybeans 5 to 7 cents lower

 

Have a great day!

 

@fccoopgrain

 

 

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