Fccoop

MARKET COMMENTARY

AM Comments 07/16/15

Thursday, July 16, 2015, 8:07 AM
Submitted by: Dustin Weiner


The corn and soybean markets were all higher last night thanks to… hot and dry weather in the East?  Hard to believe, I know - because cool, wet weather was also viewed as bullish to the markets not that long ago.  But, it is what it is I suppose.  It will be interesting to see if the rally lasts and how the noon weather models look.  The weekly export sales report was out at 7:30am and while it was a little disappointing for corn and wheat there were some decent sales made on new crop beans which is nice to see.  The export sales for new crop US beans has been well behind pace, with many of the Sep/Oct purchases from China coming out of South America (there’s a long tail to their old crop bean supply thanks to the big crop earlier this year) instead of the U.S. as we have been used to. 

 

Opening Calls

Corn 5 to 7 cents higher

Soybeans 6 to 9 cents higher

 

Have a great day!

 

@fccoopgrain

 

 

 

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