AM Comments 02/04/13
By: Dustin Weiner, Farmers Cooperative Company, Ames, Iowa
Good morning!
The markets started off Sunday night higher – and
stayed that way thanks to dry weather in Argentina. The weekend produced
only limited rains in Argentina with a dry week projected for this week
along with warmer temps – this is of course
supportive to prices. The next chances for rain return early next week
but they are expected to be light. Meanwhile the US 6-10 day weather
maps (shown below) look slightly bearish with some of the driest areas
in the country projected to receive rain.
The USDA releases their Feb S&D report this
Friday, this will concentrate only on old crop numbers. The new crop
conversation from the USDA will kick off at the end of March with
planting intentions.
Currently
Corn is steady to up 2c
Soybeans are up 12 to 14 cents
Have a great day!
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