Fccoop

MARKET COMMENTARY

AM Comments 3/15/16

Tuesday, March 15, 2016, 8:03 AM
Submitted by: Eric Kist


Good morning!

 

The grain markets are starting off the day lower on negative outside news, as crude oil is under pressure for the second consecutive day, and equities are looking to start off lower as well.  Crude dropped over $1.30/barrel yesterday, and is currently down another $1/barrel this morning, as more rumors are swirling about the potential OPEC production freeze.  Reports overnight are now claiming that Iran has no interest in joining other major producers in freezing production, and as evidenced the Iranian monthly crude oil production from last month increased by the most in nearly 20 years. 

 

In other news, NOPA will release its monthly soy crush report later this morning for February, and traders are expecting declining crush rates as margins have decreased.  Average trade guesses are anticipating 7% less bushels were processed during February than January, and 5% less than during February of 2015. 

 

Additional news is scarce for the time-being, and grains will most likely be under pressure all day from negative outside markets.

 

Opening calls

Corn: 2-3 lower

Beans: 4-5 lower

 

Have a great day!

 

@fccoopgrain

 

 

« Back

© 2018 Landus Cooperative, All rights reserved.
Landus Cooperative
2321 North Loop Dr., STE 220
Ames, IA 50010
515-817-2100
Departments
Find Landus Cooperative on
facebook icon twitter icon youtube icon blog icon