FC Morning Grain Market Commentary for 4/4/2014

A.M. Comments 4/4/2014

Friday, April 4, 2014, 8:23 am
Submitted by: Joel Pudenz

Good Morning!

The U.S. jobs report was out this morning and it looks to be neutral. During the month of March, the U.S. added 192,000 non-farm jobs – just short of the 200,000 expectation. This leaves the reported unemployment rate at 6.7% vs. expected 6.6%. Markets are mixed this morning as the trade focuses on the monthly WASDE report due next Wednesday. Most feel ending stocks for corn and beans will dwindle from the March report (1.456 bln bu. corn, 145 mln bu. beans).

More moisture is in the forecast for the wheat belt, adding pressure to wheat futures and that may spillover into corn. Midwest forecasts look to be steady to below normal temperatures and steady to above precipitation. NOAA continues to call for a building El Nino, which means below normal tempuratures for the Central U.S. The question remains if/when the effects will take place (Early summer? Late summer?).

Opening Calls:
Corn 1 to 3 cents lower CBOT

Beans 1 oto 3 cents higher CBOT

Here’s a look at where snowplows are at in Iowa. Drive safely!

http://www.fccoop.com/markets/commentary_detail.cfm?CommentaryID=2070

FC Morning Market Commentary for June 7, 2013

Good morning!

The overnight weather models displayed a wetter forecast for most of the ‘problem areas’ - Northern Saturday night are now a little wetter (.5” - 1.25”) and show 70-80% coverage.  This is not good for the planters that are desperate to start rolling again.  Most of the strength you will see from a weather report like this falls on the back end (new crop) portion of the market.  With corn mostly in the ground – the soybean futures will get the biggest boost out of news such as this.
Missouri into Southern Minnesota.  The thunderstorms that are projected for

Outside markets…  a slightly friendly (if that’s what you want to call it) jobs report has the Dow futures bouncing higher.  The $US was under big big pressure yesterday and looks like it could stay weak today which should give commodities (like corn and soybeans) a little strength. 

Opening Calls

Corn 2 to 7 cents higher

Soybeans 12 to 20 cents higher

Have a great day!

Dustin Weiner

@fccoopgrain