AM Comments 12/9/2014
Tuesday, December 9, 2014, 8:12 AM
Submitted by: Joel Pudenz
At the 7:45 break this morning, we aren’t much different from the close last night. Corn is trading a penny lower and soybeans are a penny higher. Most traders will take notice of tomorrow’s S&D report, but we aren’t expecting any fireworks. A look at other markets tells more the same. Meal is a touch higher, soy oil a few ticks lower. Oil is trading higher and the dollar is trading lower for the second day in a row. After a big move lower yesterday, feeder cattle are trading higher for nearby contracts and lower in deferred months (live cattle are trading mixed). South American weather looks non-threatening, with good balances of sunshine and rain in most areas. Look for the market to bounce around today with a lack of fundamental news and a report day tomorrow.
Opening calls are mixed:
Corn even to a penny lower
Soybeans even to a penny higher
Have a good day!