AM Comments 12/16/2014
Tuesday, December 16, 2014, 8:12 AM
Submitted by: Joel Pudenz
Lower markets this morning at the 7:45 break with corn down 2 cents and beans a dime lower. Outside markets are mixed inputs this morning. The dollar is trading lower this morning – highs were made 8 days ago and it’s been weaker ever since. Crude oil continues its slide, trading below $55 a barrel this morning. The DOW is nearing 17,000 – nearly 900 points off the highs made just over a week ago. The Russian Ruble continues is downward spiral, even after attempts by the government to increase interest rates. Weaker cash corn trade and range bound futures make it feel like we will see a continued weaker trade today. Soybeans are range bound as well and may continue feeling pressure from great growing conditions in South America. While a trade delegation from China is expected to sign soybean export agreements today in Chicago, there are some question marks on the state of the Chinese economy (or the state of its slowing growth rather).
Have a good day!