AM Comments 07/15/16
Friday, July 15, 2016, 1:07 PM
Submitted by: Dustin Weiner
It has already been a pretty wild session of trade.. overnight corn was at one point 3c higher, then an hour or so ago it was 15c lower and as I type this corn is a penny higher. Soybeans were 10c higher early on, then sold off down to over 25c lower and are now a nickel higher. The sharp break early this morning appears (surprise surprise) weather related as the most recent models show the ridge shifting further west and potentially breaking down earlier than planned with ‘not as hot’ temps forecasted for the tail end of July.
Other than that – not much else other than weather to chat about today. We learned yesterday that markets can change quickly throughout the day (yesterday beans were up almost 20c and down over 40c all during the day session). You will notice in these comments that while I am willing to take a shot at ‘opening calls’, I steer clear of ‘closing calls’, especially in markets like these…
Soybeans 3 to 6 cents lower
Have a great day!
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