Tuesday, April 22, 2014

FC Morning Market Commentary 04.22.14

Good Morning! 

Overnight markets a little higher on thoughts that maybe yesterday’s down move was a bit overdone, although price rally potential may be capped by overall good spring weather for planting, and trade reports of additional Brazilian beans and Argentine sbmeal imports to the eastern half of the US. Today’s weather looks pretty good everywhere.  2 fronts to pass thru the Midwest this week, first one tomorrow then second over the weekend. Both carry pretty good chances of rain.  National corn planting progress was 6% yesterday, trade was expecting 10-12%.  Not concerning yet, as with good conditions nearly half the US corn crop can be sowed in  a week. Other news light this am, equities slightly higher and energies slightly lower.  Re-opening grain calls will be higher….corn up 3-4 and soybeans up 3-5.

Jon Setterdahl

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