AM Comments 02/13/15
Friday, February 13, 2015, 8:02 AM
Submitted by: Dustin Weiner
This week has been a mixed bag with soybeans a bit higher on the week while corn is trading steady to a penny lower on the week. Keeping with that trend I expect a choppy trade today heading into the long weekend (no markets on Monday – Presidents Day). Next week’s schedule is unusual for sure because not only is the CBOT closed Monday but the Chinese Lunar New Year Holiday starts on the 19th which will take the Chinese out of the market AND the Carnival Holiday starts today which will impact trade not only in South America but also in New Orleans.
One thing to watch today is that depending on how the Brazilian Real trades – the soybean market could see some late selling pressure from the South American farmers if the Real continues to slide. Harvest has been active in that country and if the Real weakens farmers could look to make sales ahead of the 3-day weekend into what appears to be a strong cash price.
Corn steady to 2 cents higher
Soybeans 5 to 7 cents higher
Have a great day!