AM Comments 11/10/14
Monday, November 10, 2014, 7:11 AM
Submitted by: Dustin Weiner
Not a lot of news to start the week, the markets were mixed overnight and will likely stay that way for a short while here as traders get their positions in order before the USDA report comes out at 11am. It appears that the weather in South America has improved a bit with rains over the weekend and additional rain in the forecast for both Brazil and Argentina. As for U.S. weather, rains were limited over the weekend which allowed harvest to make excellent progress. This afternoon on the weekly harvest progress report corn harvest is expected to show 80-85% complete (vs 81% on average) while soybean harvest should show as 90-93% complete (vs 91% on average).
The outside markets are a touch supportive today with crude oil higher while the $US is a touch weaker.
Corn steady to 1c lower
Soybeans 3 to 5 cents higher
Have a great day!