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MARKET COMMENTARY

AM Comments 08/03/16

Wednesday, August 3, 2016, 1:08 PM
Submitted by: Dustin Weiner


The markets are trying to be up a little bit today with soybeans a dime higher overnight while corn is slightly higher also. There really isn’t much for new news to discuss - no major changes in weather that I see but it is going to get hot so maybe the market is a little nervous about that. Strength in palm oil (biggest 1-day rally in 10 month, sitting now at 6-week highs) is pushing soy oil higher which is of course spilling support into soybeans. But other than that – it is very quiet this morning. Look for things to start off higher with the potential to stay higher for much of the day as the charts feel a touch oversold and additional demand seems to be coming to the table…

 

Opening Calls

Corn 1 to 2 cents higher

Soybeans 8 to 12 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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