AM Comments 10/10/16
Monday, October 10, 2016, 12:10 PM
Submitted by: Dustin Weiner
We saw mixed markets last night with corn a shade higher while beans were a few cents lower. With the USDA’s S&D report hanging over our heads (to be released Wednesday) we could stay choppy/mixed until then. Also, with today being Columbus Day, the weekly crop progress report that is normally released Monday afternoons will be delayed until tomorrow. It feels like this general void of information on the holiday today has us setting up for a thin – and potentially choppy – day.
The weather forecast for the coming week is clear (as expected) which should allow harvest to progress near full throttle in many areas. There is a small cold front which could bring some minor precip tomorrow/Wednesday – but it looks to turn warm and dry as we approach the weekend. Generally speaking, strong harvest progress tends to pressure the markets. But by this time next week we may at least have a more accurate feel for corn yields…
Soybeans 3 to 5 cents lower
Have a great day!
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