AM Comments 09/15/15
Tuesday, September 15, 2015, 8:09 AM
Submitted by: Dustin Weiner
Corn was a little softer overnight, likely catching its breath after a nice string of days closing higher. Since we closed lower on Sep 3rd – here is the run on Dec corn: 09/04 up 1.5c, 09/08 up 5.25c, 09/09 up 0.75c, 09/10 up 5.25c, 09/11 up 12.75c, 09/14 up 6.50c. That’s a straight move of 32c, so seeing it set back a bit today shouldn’t be a surprise.
The weekly crop ratings were out last night, corn ratings were unchanged while soybean ratings dropped 2%. While crop ratings this time of year don’t hold as much value, a declining soybean crop could give the soy complex a little support as the trade will assume an adjustment will be coming in the next S&D.
Corn 1 to 3 cents lower
Have a great day!