AM Comments 09/23/13
Monday, September 23, 2013, 7:55 amSubmitted by: Dustin Weiner
Good morning!
As we inch closer to full blown harvest, the markets continue to slip lower. Dec corn is only a few cents away from new contract lows. The current contract low was made in August: $4.4575 on the Dec board. Early corn harvest numbers are still generally better than expected.
Crop ratings will be out this afternoon but when we are this close to harvest they are pretty much a non-event. Looks like the trade is expecting them to be somewhat unchanged.
The weather forecasts don’t show many warning signs for frost. Any extended chances look to be limited to northern Wisconsin and Minnesota, if that.
Opening Calls
Corn down 2-3 cents
Soybeans down 3-4 cents
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