Sep 19, 2014
Home| Tools| Events| Blogs| Discussions Sign UpLogin


Cash Grain Insights

RSS By: Kevin McNew, AgWeb.com

Kevin McNew is President of Grain Hedge and Geograin. McNew was raised on a farm in central Oklahoma and received his bachelor’s degree from Oklahoma State University, and master’s and Ph.D. degrees in Economics from North Carolina State University. For over a decade, he was a Professor of Economics at the University of Maryland and Montana State University, focusing on commodity markets. He has received numerous academic awards for his research and outreach work, and was (and still is) widely regarded for boiling down complex economic issues into easy-to-understand concepts for applied life.

 

Soybeans Lower on Wet Short Term Outlook

Aug 01, 2014

 This morning we have September corn trading down 2 cents, September soybeans trading down 5 ½ cents and September soybeans down 10 ¼ cents.  

The weather forecast has shifted to a slightly wetter outlook for the southwest parts of the grain belt, but there are still areas in North Dakota, southern Nebraska and northern Kansas that could miss out some of the showers. Dryness has been developing throughout Nebraska, Iowa, Minnesota and Illinois has the chance of impacting soy yields until more substantial precipitation is received next week. In the longer term 16-30 day outlook the northwest could experience drier than average weather which could strain the soybean crop which has put down shallow roots due to the wet spring.

Non-farm payrolls were released this morning, coming in slightly below market expectations. The U.S. economy created 209,000 jobs in July, below the 235,000 expected by the market. This was the sixth straight month with job creation above 200,000 – the first time that has happened since 1997. Unemployment increased a percent to 6.2%. In 2014 the economy has created 230,000 jobs per month on average, up 19% from the pace seen in 2013. S&P 500 futures are trading up a percent following the report. To add the September S&P 500 futures to your trading platform, add the symbol ZSU4.

 

Log In or Sign Up to comment

COMMENTS

No comments have been posted, be the first one to comment.
 
 
The Home Page of Agriculture
© 2014 Farm Journal, Inc. All Rights Reserved|Web site design and development by AmericanEagle.com|Site Map|Privacy Policy|Terms & Conditions