AM Comments 06/01/16
Wednesday, June 1, 2016, 1:06 PM
Submitted by: Dustin Weiner
Not a lot of news to run with this morning… The crop progress report yesterday afternoon reflected strong/adequate good to excellent (G/E) ratings on corn. This is the first week of corn ratings and the U.S. crop came in at 72% G/E, not too bad and right in line with expectations. It also showed good planting progress and when you throw in a favorable weather forecast – our markets easily slipped lower and stayed that way for most of the overnight session. It’s not that the progress report was overly bearish, but if you’ve heard the saying “you have to feed a bull market every day” – this report didn’t give the bulls much to chew on. The outside markets are a mixed input this morning as the $US appears weaker while crude oil is also weaker.
Corn 2 to 4 cents lower
Soybeans 3 to 5 cents lower
Have a great day!
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