11-28-14 AM Comments
Friday, November 28, 2014, 7:11 AM
Submitted by: Jon Setterdahl
Biggest news item this am is OPEC’s announcement to not curtail oil supply….therefore crude oil is down over $4 in early trading and is below $70/barrel….been a very long time since that has happened. Grain news is limited to weekly export sales report. Good numbers for corn and beans, neutral wheat. Soymeal had net export cancellations, which was not entirely unexpected. No overnight trade last night, so opening will be at 8:30 and markets close at noon today. Probably looking at a light volume day.
Calls are steady/mixed….supportive on export sales, negative on lower energy markets.