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MARKET COMMENTARY

AM Comments 8/23/16

Tuesday, August 23, 2016, 1:08 PM
Submitted by: Dustin Weiner


Yesterday afternoon’s crop condition ratings surprised the market as the corn rated good-to-excellent actually went up a percentage point. US corn is now 75% G/E, soybeans were unchanged at 72% G/E. This along with mostly favorable comments coming from the Pro Farmer Crop Tour gave the markets a weaker tone overnight which has carried into this morning. Also pressuring things is a crude oil market that is lower again today after dropping hard yesterday also.

 

Other than that – it’s pretty quiet, the PF Tour will get closer to the center of the belt today and we will watch to see if the tone changes. So far, so good!

 

Opening Calls

Corn 2 to 3 cents lower

Soybeans steady to 2 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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