Fccoop

MARKET COMMENTARY

AM Comments 07/24/15

Friday, July 24, 2015, 8:07 AM
Submitted by: Dustin Weiner


The corn and soybean futures markets are again weaker this morning as the bulls can’t find much to get worked up about. With the weather forecasts still in the “non-threatening” category it is hard to get too excited.  This feels like a day where the afternoon close could get a little squirrelly as traders try to even things up before the weekend.  Not to skip ahead, but when the Sunday night extended weather maps come out we will have a stronger look at early August weather which could bring with it volatility, one way or the other. Traders will have to question whether they want to be long or short at the end of the day today. 

 

With farmer selling shutting down lately, we are seeing basis – mainly in soybeans – starting to perk up a bit in the old crop slots.  This is a volatile time of year for old crop soybeans as the end user bids start to change from full month, to partial month to even week-by-week as they attempt to manage their old crop position across the inverse in the market into harvest. 

 

Opening Calls

Corn 4 to 5 cents lower

Soybeans 6 to 8 cents lower

 

Have a great day!

 

@fccoopgrain

 

 

 

 

 

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