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…
Corn 1 to 3 cents lower
Soybeans 3 to 7 cents lower
Have a great day!
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.