Fccoop

MARKET COMMENTARY

AM Comments 08/24/15

Monday, August 24, 2015, 7:08 AM
Submitted by: Dustin Weiner


Price action last night is best described as down and dirty, in sympathy with the stock markets. After a huge drop in equities on Friday, the stock market is poised for another massive selloff today as the Chinese stock market was down 8% overnight after being 11% lower last week.  Many were thinking/hoping that the Chinese bank would step in over the weekend with a policy change – but that didn’t happen.  Looks like the Dow will open over 600 pts lower this morning.  That is the main story discussed today and even though the $US is also sharply lower, commodities are taking a hit as a perceived slowdown in the Chinese economy will drag on other economies.  This would simply lower the overall consumption of commodities in the word.  Not a pretty picture this morning…

 

Opening Calls

Corn down 8 to 12 cents

Soybeans down 25 to 35 cents

 

Have a great day!

 

@fccoopgrain

 

 

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