MARKET COMMENTARY
AM Comments 06/04/14
Wednesday, June 4, 2014, 8:06 AMSubmitted by: Dustin Weiner
Later this morning census data for the month of April will be released – this is important because this will tell us how many bushels of soybeans were imported into the US that month. The USDA has a big imports number projected for this crop year (90mb total) and we will need to average 13.3mb/month from April to August if we are to reach that number. If April comes out disappointing (well under 10mb let’s say) it should be friendly to old crop soybean prices and spreads.
Other than that it is quiet. Weather forecasts still look great with the 6-10 and 8-14 day forecasts (shown below) reflecting below normal temps for a good portion of the corn belt along with normal to above normal precip. AKA – non threatening.
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