AM Comments 09/15/16
Thursday, September 15, 2016, 12:09 PM
Submitted by: Dustin Weiner
After the sharply lower day Tuesday - our markets closed higher yesterday and have squeaked out small gains so far in the overnight session. With the report behind us and harvest still in front of us – volatility has dropped, leaving us quiet markets (read: boring) until we get new news. With a fairly wet forecast in front of us harvest is being stalled a bit making yield reports pretty sporadic. Generally speaking it appears that soybean results have been excellent while corn is, well… spotty to maybe even a bit disappointing. It is of course still early.
The weather pattern over the last 45 days (warm and wet) is causing issues in parts of the belt with not only stalk quality but corn quality also. Something to watch there. The extended forecast (16-30 days out) does suggest we will see harvest delays which may not affect the futures prices much yet, but I’m guessing the guys at the ports who have boats sold for ate Sep / early Oct may be sweating a bit…
Soybeans 3 to 5 cents
Have a great day!
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