FC Morning Grain Market Commentary for 8/22/2014

MARKET COMMENTARY

AM Comments 08/22/14

Friday, August 22, 2014, 8:08 AM
Submitted by: Dustin Weiner

The markets are quiet but a little firmer this morning.  Soybeans are being lead around a bit by the cash market, which in places is extremely firm.  That general tightness is pushing the front end of the market higher, dragging November bean futures along with it a bit.  Also, another flash sale of new crop soybeans to China was announced at 8am this morning, which could give us enough strength to remain positive most of the day.  The Pro Farmer Crop Tour has the IA yield just under 179bpa which is less than what the USDA was showing earlier this month… This maybe can be the reason why corn is a penny higher this morning but overall there really isn’t much to go on for price direction.

 

Opening Calls

Corn steady to 1c higher

Soybeans 3 to 5 cents higher

http://www.fccoop.com/markets/market-commentary/?CommentaryID=2238

 

 

 

FC Morning Grain Market Commentary for 8/19/2014

MARKET COMMENTARY

AM Comments 8/19/2014

Tuesday, August 19, 2014, 8:08 AM
Submitted by: Joel Pudenz

Corn and soybean futures are both lower at the 7:45 break, corn 3 cents lower and beans a nickel lower. The first of the Pro Farmer tour yield estimates are in: Ohio is 182.1 bpa vs. 177 from USDA and South Dakota is 152.7 bpa vs. 139 from USDA. The market might pay a little bit of attention to this, but is more focused on the crop ratings from yesterday’s report and upcoming weather forecasts. Corn ratings released yesterday showed a slight drop in G/E ratings, 72% this week vs. 73% last week. Iowa improved on the week in G/E ratings, increasing to 76% this week vs. 75% last week. Soybeans improved 1% from last week, coming in at 71% G/E nationally. Weather forecasts are continuing to remain favorable with some heat pegged for this weekend and then a return to cooler temperatures with above average precipitation.

 

Opening calls:

Corn 2 to 3 lower

Soybeans 5 to 7 lower

 

Have a great day!

http://www.fccoop.com/markets/market-commentary/?CommentaryID=2233

 

FC Morning Grain Market Commentary for 8-18-2014

MARKET COMMENTARY

AM Comments 08/18/14

Monday, August 18, 2014, 7:08 AM
Submitted by: Dustin Weiner

The markets traded both higher and lower last night with corn higher at the moment (while beans are currently a shade lower).  If corn closes higher today that would be the 6^th consecutive day!  Much of this support is stemming from last Tuesday’s S&D report which not only came in a little disappointing on projected 14/15 yield but also showed increased old crop demand.  Overall when looking at corn… there really isn’t a lot of bullish news out there it just feels like maybe the market was tired of going lower and decided to take a break (somehow using a lower than expected (but still record) corn yield from the USDA as an excuse).

 

Crop ratings will be out this afternoon after the close (3pm release of data, as usual).  The market is expecting the soybean crop to hold steady (was 70% good-to-excellent last week) while the corn crop is expected to drop a bit (it was 73% G/E last week).  The Pro Farmer Crop Tour starts today which will give the trade some additional opinions on crop conditions as the week progresses.

 

Opening Calls

Corn 1 to 3 cents higher

Soybeans steady/mixed

 

Have a great day!

 

http://www.fccoop.com/markets/market-commentary/?CommentaryID=2232

 

 

FC Morning Grain Market Commentary for 8/22/2013

AM Comments 08/22/13

Thursday, August 22, 2013, 8:17 am
Submitted by: Dustin Weiner

Good morning!

 

The weekly export sales report was out at 7:30am today… total corn sales were decent, but below the trade guess.  Soybean sales were also decent but the look below the trade guess as well.  Overall this is a probably a little disappointing but close enough to the trade guesses to be a non-event.

 

Pro Farmer should finalize their Midwest Crop Tour results later today, so far their corn crop projections look stout (see table below).

 

 

Decent rains have fallen across Iowa overnight and are still moving across the state this morning.  Parts of Central IA will once again miss these rains but for many, this could be viewed as a crop saver on soybeans.  (precip map below)

 

Opening Calls

Corn down 2 to 5 cents

Soybeans down 10 to 15 cents

 

Have a great day!

 

Past 24-hour Precip Map (as of 8am)

http://www.fccoop.com/markets/commentary_detail.cfm?CommentaryID=1821

 

FC Morning Grain Market Commentary for 8/21/2013

8-21-13 AM Comments

Wednesday, August 21, 2013, 7:57 am
Submitted by: Jon Setterdahl

Good Morning! Markets were higher last night on weather. Forecasts of limited rain in the WCB and heat through next week are the reason. That’s really it this morning….not much else in play for the time being. Pro Farmer crop tour resumes today in parts of IA and IL, trade will watch for those reports.

 

Calls:  corn 5-7 higher; soybeans 20-22 higher

 

http://www.fccoop.com/markets/commentary_detail.cfm?CommentaryID=1819

 

FC Morning Grain Market Commentary for 8/20/2013

AM Comments 08/20/13

Tuesday, August 20, 2013, 8:09 am
Submitted by: Dustin Weiner

Good morning!

 

ProFarmer’s Midwest Crop Tour started yesterday (map below) they start in both the East and the West and meet in the middle (Iowa) on Thursday.  Yesterday they were in South Dakota and Ohio and they found big crops in both states.  They pegged Ohio at 171.6bpa which is just shy of two bushels short of an all-time record.  Today we will hear reports from those guys/gals from mainly Nebraska and Indiana.  The trade tends to view ProFarmer as a friend to the farmer in regards to price action, in other words the yield numbers they release may be light. 

 

Weather looks unchanged today with warming temps and a general lack of precip.  Some parts of Iowa will see scattered T-storms later this week, but the driest regions still look like they will miss it.

 

Opening Calls

Corn 4 to 6 cents lower

Soybeans 10 to 15 cents lower

 

ProFarmer Crop Tour Schedule:

http://www.fccoop.com/markets/commentary_detail.cfm?CommentaryID=1817