AM Comments 02/26/15
Thursday, February 26, 2015, 8:02 AM
Submitted by: Dustin Weiner
The weekly export sales report was out this morning and while both corn and soybeans saw numbers that were a little disappointing (more so corn) – there’s nothing here to rock the market. Most talk in the soy complex has revolved around the Brazilian government and its striking truckers. It sounds like some headway has been made (the gov’t has said they will extend free financing for vehicles for a year and keep diesel prices unchanged for 6 months for example) and the early newswires this morning are saying that about half of the 100 road blocks have been taken down so far. This news story is still bullish to soybeans, but with an agreement on the horizon it is hard to trust this market.
Other than that – not much going on. We have one trading day left in the month of February. This is the month for spring crop insurance prices and the unofficial averages (so far) are estimated to be $4.15 for corn and $9.69 for soybeans.
Corn 1 to 3 cents higher
Soybeans 2 to 4 cents higher
Have a great day!