FC Morning Grain Market Commentary for 7/5/2013

Morning Comments 7/5/2013

Friday, July 5, 2013, 8:16 am
Submitted by: Kyle Lehman

Markets will open at 8:30 today after a 44 hour pause for the observance of Independence Day. Not much news being thrown around the grain world today as many traders will still be absent which may make today a quiet trade. Grains could see some pressure with the forecast still calling for warm wet weather to persist throughout next week. Long term forecasts show mild weather conditions around the assumed pollination time frame with no extreme heat or dryness. Informa (a private company) released crop estimates Wednesday tagging the US corn crop at 160 bpa vs. the USDA 156.5 giving a production estimate of 14.26 bln bushels. Informa estimates soybean production at 3.376 vs. USDA 3.390.

 

Opening calls 2-4 lower across the board.