AM Comments 12/19/14
Friday, December 19, 2014, 7:12 AM
Submitted by: Dustin Weiner
We are witnessing a bit of a correction so far this morning with wheat trading 20c lower overnight dragging corn and soybean futures with it. The markets of course are thin overnight, and when wheat started to break lower it happened so fast (March wheat dropped 10 cents in 1 second!) that the CME actually halted/paused trading for 10 seconds to allow liquidity to enter back into the market.
The outside markets are mixed: the financial markets are expected to continue higher (the DOW was up 421 pts yesterday) while crude oil and gold are a touch higher even though the $US is approaching its highs for the month. Other than that, it looks to be fairly quiet. I wouldn’t be too surprised if corn and soybeans inch their way back to unchanged today, but it could be a struggle…
Corn 4 to 5 cents lower
Soybeans 5 to 7 cents lower
Have a great day!