Friday, June 7, 2013

FC Morning Market Commentary for June 7, 2013

Good morning!

The overnight weather models displayed a wetter forecast for most of the ‘problem areas’ - Northern Saturday night are now a little wetter (.5” - 1.25”) and show 70-80% coverage.  This is not good for the planters that are desperate to start rolling again.  Most of the strength you will see from a weather report like this falls on the back end (new crop) portion of the market.  With corn mostly in the ground – the soybean futures will get the biggest boost out of news such as this.
Missouri into Southern Minnesota.  The thunderstorms that are projected for

Outside markets…  a slightly friendly (if that’s what you want to call it) jobs report has the Dow futures bouncing higher.  The $US was under big big pressure yesterday and looks like it could stay weak today which should give commodities (like corn and soybeans) a little strength. 

Opening Calls
Corn 2 to 7 cents higher
Soybeans 12 to 20 cents higher

Have a great day!
Dustin Weiner

@fccoopgrain

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