Daily Archives: October 14, 2014

MidCo Update

The big bean rally faded, now showing small gains along with corn. The higher bean market did provide a round of farmer selling which has subsided. Wet weather has brought the bean harvest to a stand-still, offering support to futures. Beans extended the rally after trading above last week’s high and then the 50 day MA. Bean spreads are weaker due to farmer movement; SX-SF @ -8.75, low for Oct. Export inspections were large for beans @ 52.5


MidCo Morning Comments

Good morning. Corn and soybean markets overnight have extended their rallies begun yesterday despite the fact that the Dollar has strengthened further. Wet weather across nearly all the Midwest has delayed harvest and is supporting both corn and beans, but an extended period of warm and dry weather is forecast beginning Thursday. Dry weather in Northern Brazil is also lending support to the soybean market. Brazilian soybean planting is estimated to be 6% complete vs. 10% average at