FC Morning Grain Market Commentary for 9/20/2013

AM Comments 09/20/13

Friday, September 20, 2013, 8:14 am
Submitted by: Dustin Weiner

Good morning!

 

The markets were on the defensive last night as traders continue to take profits in their bean/corn positions by selling beans and buying grains.  If you look at soybeans on a chart, they appear to be in a well-defined downward trend or channel.  Nov beans broke through major support last night and the next level of support could come from the psychological number of $13.00 on the Nov contract (which is 25-30 cents lower than we are now).

 

The weather forecasts are showing us a quiet weekend after this current front moves through.  Next week’s weather also looks to be a non-event and with no cold air threats out there – the threat of an early frost continues to slip away.

 

Traders are also watching South American planting weather as their soybean crop is going to be very important over the next 6 months.  Argentina’s outlook looks benign for the next 10 days or so.  Brazil looks to get rains this weekend before turning dry next week.  Parts of Brazil have been especially dry so these rains should be viewed as beneficial.

 

Opening Calls

Corn down 1 to 3 cents

Soybeans down 10 to 15 cents

http://www.fccoop.com/markets/commentary_detail.cfm?CommentaryID=1853

 

A.M. Grain Market Commentary for 12/19/2012

AM Comments 12/19/12

Wednesday, December 19, 2012, 8:21 am
Submitted by: Dustin Weiner

Good morning!

Our markets are trading mixed this morning after knocking out some small gains overnight.  The outside markets are lending support (thanks to potential fiscal cliff progress?) with the dollar weaker while the Dow futures, gold and crude are all higher. 

The wheat market is finding support on news that the U.S. is exporting wheat to Egypt.  This positive news could/should spill over into corn today. 

At 10:30 this morning Informa Economics (well followed private company) will come out with their estimates an 2013 U.S. planted acreage.  Their previous guesstimate was for 97.7 million acres of corn and 80.0 million acres of beans.  (2012 acreage was 96.9 and 77.2 respectively). 

Currently

Corn is steady/mixed

Soybeans are steady to down 2c

http://www.fccoop.com/markets/commentary_detail.cfm?CommentaryID=1561

FC Coop Welcomes Mexican Grain Buyers

On Tuesday October 9th, FC hosted a group of agricultural products buyers from Mexico at the Farnhamville location. The group was sponsored by the Iowa Economic Development Authority, in cooperation with the Iowa Corn Promotion Board and the Iowa Soybean Association. 

The group was introduced to FC and given a presentation about our history as well as the current corn and soybean supply/demand situation. They then toured the facility and enjoyed a home-cooked Iowa lunch. They expressed interest in doing more business directly with the local source of grain, instead of brokers or trading companies. This may lead to future business endeavors.

FC - Together We Can