AM Comments 12/15/14
Monday, December 15, 2014, 7:12 AM
Submitted by: Dustin Weiner
The markets bounced around last night but spent most of the time trading higher, led by corn. The key input seems to be that China is close to approving the GMO strain
MIR 162 (remember, this is what caused imports of corn and DDG’s into that country to be stopped/rejected earlier this year). This is of course friendly to corn prices. Also adding to the friendly tone is the FSA acreage data that was released, indicating
the potential for reduction in acres planted to corn and soybeans last spring.
On the negative side of things… crude oil is weaker again today and the dollar is once again firmer. Along with continued ideal weather in South America, there may be a bit of a lid on rallies today.
Now, to start the day our markets seem to have relaxed a bit. At around 6:45am today futures prices started to slip closer to unchanged and haven’t really bounced back. A two-side traded is highly likely today thanks in large part to the outside markets mentioned above.
Have a great day!