Opening Comments
Lynn Miller
October 2nd, 2015
Into the Pause markets are a little softer: Corn -2 ¼, Beans -1 ¾, Spring Wheat -2, Winter Wheat -2 ½
Tone of the market today feels little weaker as we come into a harvest weekend. Open interest in declining in all three commodities; however the market trend of all is remaining neutral for the time being. Wheat’s are approaching overbought. Dry 5-day forecast for the Midwest to allow harvest progress to clip right along with above normal temps going out 15 days. Look for Informa’s US corn and bean estimates today as well as updated world production. FC Stone estimated Corn up 1.1 bu/acre at 167 and Beans up 1.4 bu/acre at 46.9 in their October survey.
We’ll be watching South American weather, Argentine corn acres and Stats Canada wheat numbers today.
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