AM Comments 06/07/16
Tuesday, June 7, 2016, 1:06 PM
Submitted by: Dustin Weiner
Our markets were mixed last night with corn trading mostly weaker while soybeans spent time on both sides of yesterday’s close. The crop condition report yesterday showed good looking crops. This was the initial look at soybean ratings and they came in as the third best ever with the US at 72% rated good-to-excellent. Corn rating showed an improvement from last week, moving from 72% G/E to 75% G/E and are now rated better than last year at this time. I attached the corn map below.
Overall for today we look for things to start out mixed and take their cues from the outside/macro markets. Crude Oil is pushing higher again, making new highs for the year today which could lend support. The $US looks pretty flat and has been flat after the big losses on Friday after the negative unemployment report. This drop in the $US late on Friday could have something to do with why our markets were so firm yesterday…
Corn steady to 2 cents lower
Soybeans 4 to 8 cents higher
Have a great day!
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