FC Morning Grain Market Commentary for 6/17/2013

AM Comments 06/17/13

Monday, June 17, 2013, 7:20 am
Submitted by: Dustin Weiner

Good morning!

 

Our markets were weaker last night on what appears to be ‘non-threatening’ weather.  Long story short there were dry areas that got a nice shot of rain over the weekend while some of the wetter areas (NW part of the corn belt) look to stray dry for the rest of the week.  Safe to say that from this coming weekend forward rains will turn into a bearish input….

 

This afternoon the USDA will release soybeans planting progress (expected to be in the upper 80%s) along with corn, wheat and soybean crop conditions.  This is the first look this year into soybean conditions, while corn conditions are expected to improve a % or two in the good-to-excellent categories.

 

The outside markets are mixed this morning, the $US is a touch higher, crude oil is also slightly higher while gold is weaker and the DOW is called higher.

 

Currently

Corn is 1 to 5 cents lower

Soybeans are 7 to 12 cents lower

http://www.fccoop.com/markets/commentary_detail.cfm?CommentaryID=1747