Fccoop

MARKET COMMENTARY

AM Comments 07/31/15

Friday, July 31, 2015, 8:07 AM
Submitted by: Dustin Weiner


The corn and soybean markets look like they tried to bounce last night, but there isn’t much excitement out there.  Fund liquidation had been the name of the game this week but the tightness in the cash markets (in other words, the lack of farmer selling) has things feeling like they may be a little firmer today as we wrap up the week.  In outside markets, the $US is sharply lower as I type this which could/should offer some support as the day wears on.  The USDA did release a flash report at 8am reflecting export soybean cancellations from China (for the old crop, 14/15 crop year) which could limit the soy complex.  In my opinion, this shouldn’t be a surprise as old crop export sales were already above expectations (and this happens every year).

 

The weather models are still showing a cooler trend next week with additional precip coming along with it. This is viewed as non-threatening although there are some spots out there which would like to see a little heat. 

 

Opening Calls

Corn steady/higher

Soybeans 2 to 4 cents lower

 

Have a great day!

 

@fccoopgrain

 

 

 

 

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