PM Comments 12/09/14
Tuesday, December 9, 2014, 2:12 PM
Submitted by: Dustin Weiner
Corn and soybeans did close higher today (thanks in part to the sharp decline in the $US) while the wheat market took a beating after hearing news that the Russian government is not considering restricting exports of wheat at this time. Generally speaking, with the S&D report out at 11am tomorrow… fresh fundamental news is hard to find. The soybean market did seem to be supported on speculation that the USDA will lower projected ending stocks in tomorrow’s report. Not sure why this is making news today though, as most have thought that for a while now…
I’d expect a quiet but choppy trade tonight as positions get evened out. Tomorrow we will see crop reports from both the U.S. AND Brazil released – that should be somewhat exciting although the December report is usually a non-event. Below is a snapshot of the ‘guesses’ from CBOT analysts.
Have a great afternoon!