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MARKET COMMENTARY

AM Comments 07/22/16

Friday, July 22, 2016, 1:07 PM
Submitted by: Dustin Weiner


Our markets are lower on weather that looks a touch less threatening yet again. While the back end of the two-week forecast looks a little hotter this morning, the forecasted rains coming ahead of that are showing increased coverage. Yesterday’s run on precip for the next 5 days was showing 50% of the corn belt getting coverage and this morning it is now showing 65% coverage. Also – it rained in Chicago last night, so… you know - sell sell sell!

 

Overall - the market is (obviously) coming to the realization in corn that there is a massive crop brewing out there. Soybean crop size is a little more up in the air but as we inch closer and closer to August without weather risk, the trade seems very willing to remove premiums from the market.

 

Opening Calls

Corn 2 to 4 cents lower

Soybeans 15 to 20 cents lower

 

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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