AM Comments 10/30/14
Thursday, October 30, 2014, 8:10 AM
Submitted by: Dustin Weiner
Our markets traded higher for pretty much the entire overnight session last night – corn, soybeans and wheat all made new highs for the move! However, the soybean market has since given up those gains as bean futures lost a little bit of steam and started to slip lower shortly after 7am and they were still lower when the markets paused at 7:45.
The weekly export sales report was out this morning reflecting solid soybean sales but poor corn sales. The outside markets today are considered a bearish input as the $US rallies, pushing energies, metals and other commodities lower.
Weather… While a cold snap pushes into the Midwest today, the extended outlook calls for a warmer and drier than normal patter for the western Corn Belt whole the southern and eastern parts trend a little wetter. 6-10 maps are below.
Soybeans 5 to 7 cents lower
Have a great day!