Grain Comments 09/30/22 8:01:31 AM|
SEPTEMBER 30, 2022
Morning Comments :
Grains and soybeans are trading higher this morning ahead of the 11 AM release of the Quarterly Stocks Report. Outside markets are quiet to begin the day; the Dollar Index is slightly higher, crude oil is posting small losses, and equity futures indicate the stocks will open with small gains. Ian will make landfall along South Carolina as a weak hurricane later today, dumping heavy rains along the southeast coast, but Midwest weather will remain quiet with little or no rain and slightly below normal temperatures for the next seven days. The second week of October looks dry with somewhat warmer temperatures. Producers will make excellent progress harvesting corn and soybeans the next two weeks. Other than the stocks and small grains reports and weather, there isn’t much other market moving news this morning. The September Stocks Report often produces surprises and big market moves. We’ll see after 11 AM if this one does also. Have a good Friday.