AM Comments 05/31/16

Tuesday, May 31, 2016, 12:05 PM
Submitted by: Dustin Weiner

Looking at the markets this morning we see a mixed start to the week. The soybean complex is once again trying to lead prices higher this morning although it is worth mentioning that they are currently a nickel or so off their highs (made at 1am). The Commitment of Traders report Friday afternoon didn’t present us with much for surprising news: the funds are still long and the commercials are getting shorter thanks to continued waves of farmer selling.


Generally speaking our markets have been dealt plenty of uncertainty that won’t get sorted out overnight (SA production, US acres, China demand, US yield) which have of course added risk premium to our markets. Today we see nothing glaring out there that will change the funds’ strategy as we turn the calendar from May to June. Their positions are in the money and time is on their side as this crop is still in the early stages of development.


Somewhat interesting to watch is that the 2-week forecast looks a little dry for the corn belt. The corn trade has enough wiggle room to shake that off without much worry, but the soybean carryout projections already feel pretty tight. I personally think a couple weeks of below normal precip in June shouldn’t be anything to worry about… On the bearish side, China announced they are going to be selling soybeans out of their government-owned reserves starting June 1. While normally when they do this they replace the beans with fresh imports – this time they say they won’t be replacing them. It is of course hard to trust this information, but if what they say is true this could be a little bearish to soybean prices.

Opening Calls

Corn steady to 2 cents lower

Soybeans 3 to 6 cents higher


Have a great day!









Dustin Weiner
2321 N. Loop Drive, Ste. 220 Ames IA 50010-8218
O: 515-817-2144 | C: 515-460-3228

This email is intended for the use of the person to whom it is addressed and may contain information that is privileged and confidential, the disclosure of which is governed by applicable law. Dissemination, distribution or copying of this information in an unauthorized manner is strictly prohibited. Sender accepts no liability for any damage caused by any virus transmitted by this email. If you receive this email in error, please notify the sender.



« Back

© 2019 Landus Cooperative, All rights reserved.
Landus Cooperative
2321 North Loop Dr., STE 220
Ames, IA 50010
Find Landus Cooperative on
facebook icon twitter icon youtube icon blog icon