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MARKET COMMENTARY

AM Comments 07/05/16

Tuesday, July 5, 2016, 12:07 PM
Submitted by: Dustin Weiner


There were no markets last night and when the screen fires back up at 8:30am most are calling for a softer opening. Weather is the main story as rains over the weekend were as expected and while it will be warming up soon - the forecasts for the next couple of weeks look to bring good coverage of precipitation to most of the belt (maps below). Of course with today being just July 5th this weather story is far from over and I have already heard whispers of a high pressure ridge building in the extended forecasts which could bring hot/dry temps (and a few buyers back into the market) if confirmed. This afternoon we will get another look at the weekly crop conditions report and the trade is expecting corn and soybeans conditions to drop a percent or two in the good-to-excellent categories.

 

Overall we look to start off lower but opening calls are hard to trust in markets as volatile as ours that haven’t traded since Friday afternoon

 

Opening Calls

Corn 1 to 3 cents lower

Soybeans 3 to 7 cents lower

 

Have a great day!

 

@landuscoopgrain

 

 

 

 

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

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