Fccoop

MARKET COMMENTARY

AM Comments 08/17/15

Monday, August 17, 2015, 7:08 AM
Submitted by: Dustin Weiner


The corn and soybean futures markets started out trading lower last night on non-threatening weather forecasts.  However since then they have turned higher on FSA acreage data that was released overnight which has some believing there may have been more prevent plant acres than thought...  While the FSA numbers have been proven to have poor correlation to actual acres – we have a market hungry for data and this is being viewed as bullish.  Also, the ProFarmer Crop Tour is starting today which many in the market believe will end up being friendly as yield numbers start to filter in from the Eastern Corn Belt which have a good chance to be ugly.

 

Opening Calls

Corn 2 to 3 cents higher

Soybeans 3 to 5 cents higher

 

Have a great day!

 

@fccoopgrain

 

 

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