AM Comments 08/09/13
Friday, August 9, 2013, 8:16 amSubmitted by: Dustin Weiner
Good morning!
Soybeans continued to rally last night thanks to… improving meal basis, strong new crop sales and probably some short covering (ahead of Monday’s report). Corn on the other hand just can’t quite put together a rally. With so much chatter about record or near record corn production – it is simply difficult for anyone to convince themselves to go long at these prices.
I haven’t talked about weather for a couple mornings now and that is because it isn’t changing – still non-threatening to crop development. There are rains falling across the southern belt this morning and there are small rains in the forecast for parts of Iowa late this weekend – chances are low, so I will believe it when I see it. (5 day precip forecast map to the right)
Opening Calls
Corn steady to 2 cents lower
Soybeans 7 to 9 cents higher
No comments:
Post a Comment