MARKET COMMENTARY
AM Comments 08/15/14
Friday, August 15, 2014, 8:08 AMSubmitted by: Dustin Weiner
The corn and soybeans markets are bouncing a bit higher today on not a lot of news other than some new FSA acreage data was released. The FSA is showing 1.54 million of acres of corn and 827k acres of beans that were put into ‘prevent plant’ this spring (far below last year of course). In general the actual planted acreage numbers from the FSA are a bit hard to read, due to the fact that not 100% of the acres are reported to their office. However, if you start to extrapolate their acreage data you can make the case that the actual planted acres of soybeans this year are lower than what the USDA gave us in June which means we may see a revision in the January report this winter… Not a major market mover but it does give the bulls something to chew on today.
Opening Calls
Corn 3 to 5 cents higher
Soybeans 6 to 9 cents higher
Have a great day!
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