AM Comments 01/22/15
Thursday, January 22, 2015, 7:01 AM
Submitted by: Dustin Weiner
The markets traded mixed for most of the night session but have firmed up nicely this morning. Support may be coming from the outside markets as crude oil is higher, the stock market is higher and the $US is lower. The trade seems to be waiting around to hear what the EU is going to do regarding an economic stimulus package. So far, the only news released is an announcement that their interest rates will stay unchanged – expect additional news to be out later this morning.
Not much for fundamental news today – the weekly export sales report is delayed to tomorrow due to the holiday Monday. The EIA will release their weekly ethanol info later this morning which could provide a little bump (one way or the other) for corn prices. South American weather continues to be favorable with more rains on the way for the major growing areas and temps are backing off a bit.
Corn steady to 1c higher
Soybeans 3 to 4 cents higher
Have a great day!