AM Comments 09/20/16
Tuesday, September 20, 2016, 1:09 PM
Submitted by: Dustin Weiner
The corn and soybean markets were a bit higher overnight without much fresh “news” to discuss. Soybean futures are now trading above some key moving averages which has helped keep a bid under that market. Tomorrow the Fed Reserve will release their statement on decisions made about monetary policy - this of course is being watched in the commodity sector to see how it effects the $US.
The USDA’s crop conditions/progress reports were released yesterday afternoon and the condition ratings were unchanged – but because we are this later in the game, this could be the last time I look at G/E ratings for the year. The market has now of course turned its gaze to harvest progress... Those numbers came in a little behind average (due to wet conditions, the maps are below) and this is something that isn’t a huge deal today, but it will be watched from here on out.
Corn 1 to 2 cents higher
Soybeans 5 to 7 cents higher
Have a great day!
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