Fccoop

MARKET COMMENTARY

AM Comments 03/08/16

Tuesday, March 8, 2016, 7:03 AM
Submitted by: Dustin Weiner


It was a lower grind of a trade last night and the news stories are really all that “new”… but I will give them to you anyways: A) the way the markets closed yesterday (poorly) has everyone on the defensive today, B) the funds are still plenty short which gives us opportunity for short covering rallies, C) the USDA has an S&D out tomorrow which could keep things choppy today and D) the outside markets are weaker which is a bearish influence on our grains.  Nothing overly exciting there but all of it needed mentioned.  The only piece of news that I find somewhat interesting is that parts of Eastern Texas and the Delta are projected to get slammed with heavy rains.  Why is that interesting? Because (at least down there) its corn planting season! A wet Delta on March 8th isn’t a real market mover, but to me this type of weather story is a welcome signal that spring is in fact just around the corner.

 

Opening calls

Corn 1 to 2 cents lower

Soybeans 2 to 4 cents lower

 

Have a great day!

 

@fccoopgrain

 

 

 

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