AM Comments 12/30/14
Tuesday, December 30, 2014, 8:12 AM
Submitted by: Dustin Weiner
The markets this morning are starting a little softer as the market steps back a bit – keeping corn and soybean futures from breaking out of the top of their recent trading range. This type of back-and-forth trade is to be expected, and our markets could trade sideways to lower like this until the WASDE data comes out Jan 12th. Producers may want to watch these markets closely now as margins are starting to get pinched for end users and cash markets appear to be relaxing... Another potential bearish input as we cross into the New Year: soy traders in particular will have to deal with the fact that South American growing conditions remain excellent... While it is true that the outside market influences may help the funds keep shoving money into commodities -- it is starting to feel fundamentally that the path of least resistance for futures prices may be lower.
Corn 2 to 4 cents lower
Have a great day!