Fccoop

MARKET COMMENTARY

AM Comments 08/03/15

Monday, August 3, 2015, 7:08 AM
Submitted by: Dustin Weiner


The markets were lower again last night as good weather and bearish outside markets (crude oil is making new lows for the move) continue to pressure prices.  Also, the Chinese PMI (a manufacturing index relative to the strength of their economy) showed a 47.8 for July – the lowest reading since November of 2011.  This has the world nervous that China could slip into a recession. This is one of many inputs that has the $US firmer again, and while you have heard me talk about that quite a bit – it may be time to put it in perspective.  With what is going on with the $US vs the Brazilian currency (the Real) – farmers in Brazil are getting a higher price today on soybeans then they were a few weeks back when beans were on their highs. Hard to believe, right?  Now that the calendar has turned to August there are already some in the trade projecting record acres again to be planted this fall in South America…

 

Opening Calls

Corn 4 to 6 cents lower

Soybeans 8 to 12 cents lower

 

Have a great day!

 

@fccoopgrain

 

 

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