MARKET COMMENTARY
AM Comments 09/11/14
Thursday, September 11, 2014, 8:09 AMSubmitted by: Dustin Weiner
Today is report day – at 11AM we will have the
September S&D report from the USDA. The markets are on the
defensive ahead of it as soybeans made new contract lows last night
while corn is still bouncing on its contract lows. As mentioned
here before, the trade is leaning towards increased carryouts in both
corn and soybeans (details below). You have to wonder, if the USDA
confirms these bigger carryouts – is there still downside potential from
here? Or maybe the market has done enough work
and will wait for yield reports to roll in before working lower. We
will all be a lot smarter in just under 3 hours…
Opening Calls
Corn down 2 to 3 cents
Soybeans down 3 to 4 cents
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