FC Morning Grain Market Commentary for 10/16/2013

AM Comments 10/16/13

Wednesday, October 16, 2013, 7:59 am
Submitted by: Dustin Weiner

Good morning!

 

There is very little fundamental news in the marketplace to discuss today, the moves lately have all been technical (chart-driven) in nature.  Corn has bounced higher the last few days, maybe on rumors about China in buying U.S. corn, but…  when you look at a chart of Dec corn, it does look like we’ve put in a bullish reversal.  Ever since CZ made new lows for the move Monday but closed higher – it has been steadily working upward.  There is overhead resistance at $4.50 meaning CZ will likely have a hard time trading much higher than that.  We are 6 cents away from that now.

 

Opening Calls

Corn steady to 1 cent higher

Soybeans 4 to 6 cents higher

 

http://www.fccoop.com/markets/commentary_detail.cfm?CommentaryID=1883

 

 

FC Market Morning Commentary for July 1, 2013

Good morning!

Corn and soybean spreads continue to firm after Friday’s friendly stocks numbers were released.  That is good for old crop, not so good for new crop.  December corn gapped lower last night, making new contract lows.  It won’t be long until we start discussing pollination weather forecasts and if they remain non-threatening… dec corn could struggle to find support.

Weather today… we still have a generally favorable forecast for the week for most of the Midwest.  No signs of excessive heat or dryness through at least mid-July. 

Opening Calls

Corn down 3 to 5 cents

Soybeans up 5 cents (new crop) to up 20 cents (old crop)

Have a great day!

Dustin Weiner

@fccoopgrain

Farmers Cooperative Company

Ames, Iowa