Good morning!
Temperatures from 100 to 115 degrees across the corn belt continue to stress crops today. There are still differing weather models out there with some showing a few rains this weekend into early next week while others show the heat and dry weather sticking around. Any changes to either heat or precip throughout the day will no doubt move this market around.
This morning the USDA released its weekly export sales report and it was disappointing once again on corn while soybeans came in at or a little above expectations – which is a little friendly. Today could/should be choppy as we try to trade a weather market AND prepare for the USDA’s planted acreage report and quarterly stocks report coming out tomorrow morning.
Currently
Corn is 2 to 4 cents higher
Soybeans are 3 to 5 cents higher
http://www.fccoop.com/markets/commentary.cfm
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