AM Comments 09/06/16
Tuesday, September 6, 2016, 12:09 PM
Submitted by: Dustin Weiner
Our markets are a little softer this morning after private estimates started rolling in Friday that continue to lean towards record production. Informa is now at 174.8 bpa for US Corn yield and FC Stone is at 175.6 bpa. Informa had the beans at 49.5 bpa and FC Stone is at 50.1! Those are big numbers that could be difficult for the trade to overcome with very little other news to talk about.
Weather forecasts will start to come into the conversation again as we start watching for harvest progress (and early frost chances). Most of the belt will be getting rains this week which could put a pause on some of the ‘early’ progress. The extended forecasts are currently showing below normal temps with normal to above normal precip. Nothing too alarming yet there, but I bet that by early next week we will be discussing frost chances somewhere. It’s that time of year already!
Corn 2 to 3 cents lower
Soybeans 2 to 4 cents lower
Have a great day!
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