AM Comments 06/14/13
Friday, June 14, 2013, 8:12 amSubmitted by: Dustin Weiner
Good morning!
The front end of both the corn market and the soybean market was stronger last night – helped out by a continued lack of cash movement. This lack of farmer selling keeps basis firm which in turn keeps spreads firm.
Weather… looks pretty much the same as yesterday. Rain this weekend and rain next weekend – potentially dry in the middle. Hopefully the ‘break’ next week is long enough and dry enough to get the rest of the bean crop in the ground. For Monday afternoon’s planting progress report soybeans are expected to come in at around 85% planted. We are starting to turn the page on the weather story from ‘planting conditions’ to ‘crop conditions’.
Opening Calls
Corn steady to 5c higher
Soybeans 4 to 7 cents higher
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