MARKET COMMENTARY
AM Comments 05/30/14
Friday, May 30, 2014, 8:05 AMSubmitted by: Dustin Weiner
The weekly export sales report was out this morning (delayed a day due to the holiday) and it looks supportive for both corn and soybeans. Let’s not get carried away though, it wasn’t that wild -- both those markets were trading a shade lower before the report was released (7:30am) and now they are a bit higher. So not a lot of action yet today. Overall the markets seem quiet/stagnant as they wait for direction.
Weather forecasts don’t look much different – “active” is the word I am seeing used to describe the nearby forecast with chances for heavy rains (up to 3” ) across the corn belt over the next 10 days.
Opening Calls
Corn steady to 1c higher
Soybeans 1c lower to 1c higher
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