AM Comments 03/26/15
Thursday, March 26, 2015, 8:03 AM
Submitted by: Dustin Weiner
The weekly export sales report was out this morning, and sales were solid again for soybeans which is a bit surprising as this is the time of year where those should wind down closer to zero. Corn sales were a little disappointing however, coming in below trade estimates.
Meanwhile in the outside markets, the dollar continues to unwind and work lower while crude oil rallies sharply, back above $50/bl. This weaker $US and stronger crude price action has propped up corn and soybean prices this week. The corn charts are actually starting to look positive while soybean charts still look dismal as they continue to fail to take out key moving averages.
Corn steady to 2 cents lower
Soybeans 2 to 4 cents lower
Have a great day!