AM Comments 1/29/15

Thursday, January 29, 2015, 7:01 AM
Submitted by: Eric Kist

Overnights were fairly quiet right up until the close, when the soybean market popped to life to close 4 cents higher, while corn was 2 cents lower heading into the morning break.  USDA weekly exports numbers were released this morning, providing a bit of fundamental news for us today.  Corn exports were pegged at 42.1 Mbu, within the range of expectations, but down significantly from the previous week, as exports from the Black Sea Region are currently undercutting the US with aggressive offers.  Bean export figures were a pleasant surprise, coming in at 32.6 Mbu, versus expectations of 7-15 Mbu.  It seems US bean exports are fighting to stay relevant, but with the South American harvest underway, one can assume US beans are gasping for air in the final rounds…





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