Our markets are mixed to higher, led by corn. The
big input in corn is weather. The 6-10 day forecasts look wetter than
they did last week with some big rains coming across the corn belt.
This obviously doesn’t help planting progress
and could eventually move acres away from corn. The USDA will release their next planting progress report later this afternoon.
Soybeans are somewhat of an inverse to corn,
because if corn acres have the potential to be reduced due to planting
delays – soybean acres could rise. Japan is out of the market today due
to a holiday (Showa Day) and China is also closed
for their Labor Day holiday - which could keep soybeans choppy due to
lighter volume.
The outside markets are a friendly input… crude is
up, the $US is weaker and the DOW is higher. This should help support
things a bit and I wouldn’t be surprised to see soybeans creep back to
trade higher at some point.
Opening Calls
Corn 10 to 13 cents higher
Soybeans steady to 2 cents lower
Dustin Weiner
@fccoopgrain
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