AM Comments 07/14/16
Thursday, July 14, 2016, 1:07 PM
Submitted by: Dustin Weiner
Another firmer market this morning as weather remains the lead topic in most conversations. I did hear someone say that “this is the wettest drought I’ve ever experienced”… but even with that, the high heat that is forecasted is obviously adding weather premium to prices. The weather maps look similar to yesterday, the last two weeks of July will be hot (90’s to low 100’s) and dry. If the high pressure dome/ridge forecasts start to break up, so will prices. If it hangs on longer than expected, so will prices. I hate to make it sound so simple but weather markets get emotional/reactionary – and that is what we are dealing with for now. It will be interesting to see a) how we close Friday afternoon and b) how we open Sunday night. A lot can change with weather over a weekend so be careful, you don’t have to be in Vegas to gamble…
Corn is 5 to 7 cents higher
Soybeans are 6 to 9 cents higher
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.