AM Comments 01/15/15
Thursday, January 15, 2015, 8:01 AM
Submitted by: Dustin Weiner
A strong export sales report this morning has soybean futures rallying while the outside markets in general are actually friendly to the rest of the commodity prices this morning. The $US chart looks like it is trying to put in a reversal lower, which helps explain why commodities in general (corn, soybeans, wheat, energies, metals, etc. etc.) are all showing gains at this time. With little news to go on, a surprising boost from the outside markets could keep things supported to start the day today.
Later this morning there will be a bit of fundamental news that might shift prices around a bit. First, Informa (a well followed private company) will be releasing their estimate on acres for this spring. Second, the NOPA soybean crush report will be out at 11am, giving us a better idea on recent domestic bean demand strength.
Corn 4 to 6 cents higher
Soybeans 5 to 7 cents higher
Have a great day!