Fccoop

MARKET COMMENTARY

AM Comments 07/20/15

Monday, July 20, 2015, 8:07 AM
Submitted by: Dustin Weiner


Our corn and soybean markets are lower this morning and are sitting right near the lows for the night session.  Two main stories overnight, first the $US is at its 3-month high (which is pressuring commodities in general) and second, drier forecasts for waterlogged areas of the Midwest are now seen as bearish to prices. The weather forecasts can change as the heat that is coming will be watched closely to see how long it sticks around and how hot it gets as corn is still pollinating.

 

Bottom line: the next truly meaningful report from the USDA isn’t out until August 12th (S&D).  With demand poor and seemingly not changing soon – all we have to trade off of is the weather and the appearance of the charts.

 

Opening Calls

Corn 7 to 10 cents lower

Soybeans 10 to 15 cents lower

 

Have a great day!

 

@fccoopgrain

 

 

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