FC Morning Market Commentary 051214

The markets were quiet last night while weather across the Western Corn Belt was not – heavy storms rolled through overnight, and it is still raining in Iowa as I type this up this morning.  After these storms push East, the forecasts look generally dry for the next 7 days, which will be help get producers back in the fields.

There really wasn’t a whole lot of news out over the weekend -- other than stories out of Ukraine (yes, it is still tense over there).  The markets don’t seem too concerned about that today, as global equities are higher – but at some point the EU and the US could come up with some new, additional economic sanctions.  As far as the grain trade is concerned, to-date there have still been no disruptions in regards to corn/wheat trade flows out of that area.

Overall for today look for prices to generally drift lower – weather is still the #1 input into the markets and even though there were some heavy (too-heavy?) rains that hit parts of IA overnight – moisture is viewed as good for crops and bad for prices (today)...  Rain makes grain!

Opening Calls

Corn down 2 to 4 cents

Soybeans steady to down 2 cents

Have a great day!

Dustin Weiner

@fccoopgrain

FC Morning Market Commentary 04.22.14

Good Morning! 

Overnight markets a little higher on thoughts that maybe yesterday’s down move was a bit overdone, although price rally potential may be capped by overall good spring weather for planting, and trade reports of additional Brazilian beans and Argentine sbmeal imports to the eastern half of the US. Today’s weather looks pretty good everywhere.  2 fronts to pass thru the Midwest this week, first one tomorrow then second over the weekend. Both carry pretty good chances of rain.  National corn planting progress was 6% yesterday, trade was expecting 10-12%.  Not concerning yet, as with good conditions nearly half the US corn crop can be sowed in  a week. Other news light this am, equities slightly higher and energies slightly lower.  Re-opening grain calls will be higher….corn up 3-4 and soybeans up 3-5.

Jon Setterdahl

FC Market Commentary 21 Apr 14

The markets started Easter Sunday higher last night – mainly in soybeans – but gave way to selling pressure and this morning we now see corn, beans and wheat all in the red.  The talk overnight was that risk premium was being taken out of the markets as the situation in Ukraine seems to have improved.  Leaders from the U.S., EU, Russia and Ukraine reached an agreement last week, at least making an attempt at a peaceful resolution.  This is allowing the grain markets to relax a bit. 

This afternoon, after our markets close, we will get the weekly planting progress report.  The market is expecting corn planting to be somewhere around 10% complete.  This is close to our average and will confirm the market sentiment that planting, so far, is “normal”.  Between good prospects for the 14/15 crop and Ukraine improving – corn has struggled to stay positive lately.  Last night May corn traded to the lowest level since the March stocks report…

The outside markets are mixed with Crude Oil lower at this time (DN 25 @ 103.12) along with a higher US Dollar (138.06 vs. Euro) and the US stock market is higher (UP 8).

Opening Calls

Corn down 4 to 5 cents

Soybeans down 7 to 10 cents

Have a great day!

@fccoopgrain

Morning Grain Market Commentary for 2/5/2014

Morning Comments 2/5/2014

Wednesday, February 5, 2014, 8:30 am
Submitted by: Joel Pudenz

Good Morning!

 

Some momentum from yesterday carried through into the overnight as beans rallied on strong export demand. The rally was cut short with the potential of profitable bean and meal imports from S.A. into the U.S. Harvest yields in Brazil and early yields in Argentina look very strong – as expected. The USDA Feb WASDE report is due this coming Monday; it will be interesting to see what the USDA estimates for exports vs. January with current export sales higher than USDA estimates. Beans closed 2.25 cents lower overnight.

 

The Dollar and Dow were both lower overnight, which is supportive to commodities, but corn had a large amount of farmer selling yesterday which seemed to cap any upward movements. Corn closed 1.75 cents lower overnight.

 

Have a good day!

 

http://www.fccoop.com/markets/commentary_detail.cfm?CommentaryID=2008

 

FC Morning Market Commentary for January 17, 2014

Good morning!

Soybeans are getting pressured on further confirmation of rains moving into Argentina this weekend.  Also, the cash market witnessed soybean basis back off a bit yesterday which was a small negative input.  Even with beans being almost a dime lower over night, they are still 27c higher on the week which would be the strongest 1-week move since late November.  Strong demand from both domestic crushers and China is what spurred this rally.

Later this morning a well followed private company will release their updated estimate on 2014 acreage intentions – their last estimate had corn at 91.8ma and soybeans at 81.9ma.

Monday is a holiday, so we are staring at a 3-day weekend. With weather forecasts in Argentina hanging over our heads the trade could get choppy as we get closer to the 1:15pm close. 

Opening Calls

Corn down 1 to 3 cents

Soybeans down 7 to 10 cents

Have a great day!

Dustin Weiner

@fccoopgrain