Monday, June 25, 2012

June 25th, 2012 Morning Market Commentary

Weather market in full force this morning. Weekend precip was scattered and once again mainly in the western and northern corn belt. The tropical storm in the gulf steered east and will not be of aid to parched areas in the East. Additionally, this week has mid to upper 90’s temps forecasted for a few days. Weekly crop ratings will probably decline again this week, led by the states east of the river, although some western states may show improvement. Outside market influences neutral to negative, with crude oil and equities lower, but that does not matter right now. Reminder of USDA quarterly stocks/acreage report this coming Friday morning. Volatility will remain high the next few days. Also, today the CBOT pit close moves from 1:15 to 2:00 pm, so we will be back in sync with both electronic and pit close at the same time.  Currently corn up 35 and soybeans up 40.

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