AM Comments 08/30/13
Friday, August 30, 2013, 8:00 amSubmitted by: Dustin Weiner
Good morning!
Our markets were weaker last night, the weather forecasts are finally cooling down and there are potential rains in the forecast – although chances are low. We may walk in here Tuesday (Monday is the Labor Day holiday) with higher markets if these rain chances fizzle out. With this being a three-day weekend you can expect a choppy trade ahead of it as traders attempt to remove risk from their positions.
The early harvest reports out of the Southern Corn Belt and the Delta are still impressive. The irrigated corn in the boot heel of Missouri is reportedly running between 215 and 250 bpa. Non irrigated corn will start soon and is expected to be in the 175bpa range. The cash inverse is starting to slip away as new crop bushels start to move North.
Opening Calls
Corn down 1 to 3 cents
Soybeans down 10 to 12 cents
No comments:
Post a Comment