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!
Corn 2 to 3 cents lower
Soybeans steady to 2 cents lower
Have a great day!
2321 N. Loop Drive, Ste. 220 Ames IA 50010-8218
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