AM Comments 05/14/14
Wednesday, May 14, 2014, 8:05 AM
Submitted by: Dustin Weiner
Both corn and soybeans are trading within a penny of yesterday’s close this morning, so… not a lot of action. The short-term weather forecasts looks great to finish out the week and into next week with the rain staying away giving a nice window for WCB field work to be completed. The extended weather is starting to shift into more of a wetter pattern which by then could/should be welcomed with open arms.
The bulls may have something to chew on in the bean market as it appears that China’s “issues” they’ve had with soybean margins/demand/etc may finally be turning around. There is a story out there about China’s meal demand starting to pick back up which is a good sign.
The outside markets are mixed with Crude Oil higher at this time (UP 31 @ 102.01) along with a lower US Dollar (137.14 vs. Euro) and the US stock market is lower (DN 15).
Corn steady to 1c lower
Soybeans steady to 1c higher
Have a great day!