Morning Comments July 14, 2017
Friday, July 14, 2017, 8:07 AM
Submitted by: Landus Cooperative
Corn +5 to +6
Soybeans +6 to +8
Yesterday, the corn market fell sharply due to a cooler, wetter forecast. Disappointing U.S export sales played a key role in the decline as well. We continue to trade in a weather market. This means that if the weather turns dry and crop condition ratings deteriorate there is potential for another big rally. However, it also means that if we continue to see rainy weather we could have more days like yesterday.
Soybeans were pressured by lack-luster export numbers and fund selling as the new crop contract fell 46 1/2 cents yesterday. As we get closer to predicting the August weather forecast, we should know more about how the crop will look and how the markets will value soybeans. After the downfall yesterday, we could see a short-covering rally that would produce a great opportunity to make old and new crop soybean sales.
Additionally, Landus Cooperative is working on a mobile app that will enhance our customer’s experience with the company. Currently, we are looking for feedback on what you, the producer, would like to see on the app. If you are interested, please take no more than five minutes of your time to fill out our quick survey here:
Thank you for your help!