FC Morning Market Commentary for 8/28/2014

MARKET COMMENTARY

AM Comments 8/28/2014

Thursday, August 28, 2014, 8:08 AM
Submitted by: Joel Pudenz

Export sales released this morning at 7:30 failed to cause any fireworks before the 7:45 break. Old crop corn and soybeans sales were both net negative (due to cancelations) and within market expectations. What’s got the market a bit excited is new crop export sales: new crop corn sales were on the upper range of estimates and beans were higher than the trade expected. The variable to watch today is what is happening in Eastern Europe. Wheat futures are higher on reports of increased tension and Russian troops entering Eastern Ukraine. Unless we know Black Sea exports are being affected, this will be a short term supportive input.

 

Weather looks to be wet for the next few weeks. Plenty of precipitation is in the forecast for the Western Corn Belt with some colder weather to follow. However, there is no threat of frost forecasted at through at least mid-September. NOAA projects a warmer-than-average winter (Nov-Dec-Jan) is on the way, which would be nice after what we had last winter.

 

Markets opening:

Corn 1 to 2 cents higher

Beans 1 to 3 higher

 

Have a good day!

http://www.fccoop.com/markets/market-commentary/?CommentaryID=2245

 

FC Mid Day Grain Market Commentary for 3/11/2014

Midday Comments 03/11/14

Tuesday, March 11, 2014, 12:49 pm
Submitted by: Dustin Weiner

Good afternoon!

 

Feels like an old-fashioned “Turnaround Tuesday” today as the markets recover from yesterday’s losses.  Corn is rallying nicely after the European Union threatened sanctions against Russia in protest of its advancement into the Crimean peninsula of Ukraine.  This has the wheat market firmer which of course spills into corn – FYI Russia is on track to be the 5^th largest exporter of wheat this year (and Ukraine is the 6^th largest) so it’s a big deal.  Safe to say grain traders are watching this situation closely and for the time being the cure to the uneasy, nervous feelings this situation brings is to buy buy buy. 

 

Currently:

·         Corn is 3 to 5 cents higher

·         Soybeans are steady (old crop) and up 10 to 15 cents on new crop. 

o   This price action could be reflective of old crop sales cancellations?  Even rumors about that would cause people to exit the old/new bean spread and explain what we see today

 

http://www.fccoop.com/markets/commentary_detail.cfm?CommentaryID=2049