AM Comments 07/12/16
Tuesday, July 12, 2016, 1:07 PM
Submitted by: Dustin Weiner
It was a quiet overnight session - but today at 11am we will be graced with another S&D report from the USDA. It feels like the market is expecting this report to be a touch bearish on corn which isn’t too surprising as this will be the first look at an S&D with the large acreage numbers we found out about on June 30th. We will have to wait and see…
In the meantime the weather nearby is bringing showers and thunderstorms to the central corn belt while a patch of dry weather remains in the deferred maps – likely starting to dry out on Sunday. Yesterday the weekly crop progress report showed both corn and soybeans gains 1% in the good-to-excellent categories which is a touch bearish to prices (maps below).
Corn 2 to 3 cents lower
Have a great day!
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