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MARKET COMMENTARY

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…

 

Currently:

Corn is 5 to 7 cents higher

Soybeans are 6 to 9 cents higher

 

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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