FC Morning Grain Market Commentary for 4/29/2014

AM Comments 04/29/14

Tuesday, April 29, 2014, 8:27 am
Submitted by: Dustin Weiner

Good morning!

 

The markets are slightly higher this morning, with corn firming once again on the cooler/wetter weather forecasts.  The weekly planting progress report that was released yesterday also helped support corn – the market was expecting 20-25% planted on corn and the USDA says c corn in 19% planted vs. 28% average.  IA, IN and OH are all 18 points behind their respective 5-year averages.  The average for next Monday’s report?  47%. 

 

Other than that, pretty quiet.  The soybean market seems to ebb and flow right along with Chinese crush margins (which are improving a bit as meal demand perks up).  If China is truly starting to turn their margins around, it could be tougher for the US to nab some of those Brazilian ships of beans that not long ago had nowhere to go. 

 

Opening Calls

Corn 3 to 4 cents higher

Soybeans steady to 2 cents higher

http://www.fccoop.com/markets/commentary_detail.cfm?CommentaryID=2094

 

 

FC Morning Grain Market Commentary for 4/28/2014

AM Comments 04/28/14

Monday, April 28, 2014, 7:58 am
Submitted by: Dustin Weiner

Good morning!

 

The soybean market found support last night and bounced sharply higher – pushing May & July futures prices back up above $15.  I almost don’t want to type this, but the rumor is that on the recent pull-back in soybean prices China started nosing around trying to buy additional Brazilian beans (the story last week was that they could cancel out of those purchases fast enough).  So who knows, overall though with a bean carryout that is this tight – we will see more than our fair share of volatility. 

 

The corn market is also a touch higher so far this morning – while the rain that fell over the weekend is beneficial to some, it is currently being viewed as a threat to planting progress.  The weekly planting progress report will be out later this afternoon with the market expecting us to be slightly behind “normal”.  The cool wet weather this week won’t help us catch up, and the extreme cold weather in some of the northern wheat country will not be much help to that crop’s condition ratings.

 

The outside markets are higher with Crude Oil higher at this time (UP 40 @ 101.00) along with a lower US Dollar (138.57 vs. Euro) and the US stock market is higher (UP 60).

 

Opening Calls

Corn 2 to 4 cents higher

Soybeans 10 to 15 cents higher

http://www.fccoop.com/markets/commentary_detail.cfm?CommentaryID=2092