AM Comments 08/06/13
Tuesday, August 6, 2013, 8:04 amSubmitted by: Dustin Weiner
Good morning!
Another day, another decent looking weather outlook, another couple cents lower in both corn and soybeans. The weather forecasts for the next two weeks still show normal to below normal temps with off-and-on showers over most of the Midwest. It does turn more “seasonal” in late August (warmer) – but overall there is very little to get concerned about here.
The crop conditions were out yesterday afternoon with born U.S. corn and soybeans gaining 1% in the good-to-excellent categories. This was about as the market expected.
Other than that… pretty quiet on the news wires. The bulls are hoping that today ends up being a “Turnaround Tuesday” and we see futures prices work higher – the weather outlook wouldn’t support that thought, but I wouldn’t be surprised to see corn and beans trade both sides of yesterday’s close today.
Opening Calls
Corn mixed, up 2 cents to down 2 cents
Soybeans down 3 to 6 cents
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