Fccoop

MARKET COMMENTARY

AM Comments 9/3/15

Thursday, September 3, 2015, 8:09 AM
Submitted by: Eric Kist


Another quiet overnight trading session has the grain markets slightly lower as we head into Thursday’s trading action.  Weekly export sales numbers were out this morning, highlighting current demand (or lack thereof) for US crops.  Old crop sales numbers were neutral as we are putting the finishing touches on the 14/15 crop year.  For 15/16 new crop sales, soybean export numbers are beginning to increase week-over-week, coming in above expectations again this week.  Corn sales, on the other hand, continue to struggle, coming in below expectations again, due to a premium price tag in comparison to other parts of the world – South American corn is reportedly trading at a $0.21 discount per bushel compared to US-origin corn. 

 

In addition to the weekly sales report showing strong bean numbers, a flash report from the USDA this morning reported additional soybean export sales of nearly 900k metric tons sold to China/unknown for the 15/16 crop year, which will hopefully provide a bit of a spark for today’s trade.

 

The well-respected private firm Informa will release their updated production estimates sometime this morning, which should factor into the markets today as well, as traders are hungry for any piece of news information.

 

Opening calls

Corn: 3-4 lower

Beans: 1-2 higher

 

Have a great day!

 

@fccoopgrain

 

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