MARKET COMMENTARY
AM Comments 09/22/14
Monday, September 22, 2014, 7:09 AMSubmitted by: Dustin Weiner
New contract lows are being made this morning on corn, soybeans & meal as the markets grind lower on good weather and big yield reports. The majority of the Midwest looks to stay warm and dry for the rest of week with no signs of a freeze or frost for the next couple of weeks. The yield reports coming out of Illinois are just absolutely phenomenal (a bunch of from 250 to 300+ bpa) and with the clear weather forecast – we should start to hear even more yields from across the corn belt soon. I did hear this morning that some producers in the eastern corn belt will temporarily stop harvesting corn and switch to beans soon because the beans are drying down fast. This could be the final nail in the coffin on the old crop / new crop soybean inverse as the bean pipeline starts to fill.
Opening Calls
Corn 3 to 4 cents lower
Soybeans 14 to 17 cents lower
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