AM Comments 07/29/13
Monday, July 29, 2013, 7:56 amSubmitted by: Dustin Weiner
Good morning!
Today looks to be a mixed to lower trade with soybeans down while corn trades near steady. Prospects for normal U.S. crops continue to offer resistance to futures prices. A good portion of the Midwest was dry over the weekend although beneficial rain showers fell in KS, MO, IL, IN and OH. Temps remained cool across the belt with the next rain scheduled for late this week.
Crop conditions will be out this afternoon with the markets expecting no change to maybe a slight improvement in ratings. With cooler, non-threatening temps and an active weather patter projected, U.S. crop sizes are likely increasing in the eyes of the trade.
Opening Calls
Corn 2c lower to steady
Soybean 7 to 14 cents lower
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