AM Comments 01/26/15
Monday, January 26, 2015, 7:01 AM
Submitted by: Dustin Weiner
Continuing in the same fashion as last week: it was a quiet overnight session with prices once again slipping to lower levels. With “new news” nowhere in sight, most of the talk I am hearing this morning revolves around South American weather – which remains favorable. Corn and soybean crops are nearing maturity and both still hold the potential for record yields.
If you are searching for friendly news this morning – there are a few stories out there again discussing the recent slow pace of farmer selling which could start to positively affect basis and spreads (and eventually/maybe, future prices). Also – at this particular moment crude oil is higher! A turnaround or even a bottom in crude could temporarily stop the bleeding in many of the commodities on the screen.
Corn 2 to 3 cents lower
Soybeans 3 to 4 cents lower
Have a great day!