AM Comments 09/04/15
Friday, September 4, 2015, 8:09 AM
Submitted by: Dustin Weiner
The price action overnight was positive and our markets look like they might want to head into the weekend a bit firmer. Of course, we have a long ways to go to recover from our total losses this week (currently both Dec corn & Nov beans are down 13c on the week) but it’s a start. The recent bear story out there: private crop estimates are suggesting that the USDA won’t be making production tweaks any time soon (Informa raised both their corn and soybean yield projections). The USDA will be out next Friday with a new S&D but it could be a non-event if they don’t make adjustments – which is probably ok as many in the trade will want to wait for the combines to roll before tweaking production estimates.
Other than that – it is very quiet. Not much out there for the bulls, plenty for the bears. Weather is looking good to finish out the crops. World economic concerns are still a main topic of conversation of course, which tends to beat on our commodities a bit…
Corn steady to 2 cents higher
Soybeans 2 to 4 cents higher
Have a great day!