AM Comments 5/14/15
Thursday, May 14, 2015, 8:05 AM
Submitted by: Eric Kist
Markets traded higher overnight on decent volumes, and at the morning break before today’s session corn is currently 3 cents higher, while beans are a half cent lower. There were reports of planters rolling throughout the state yesterday, but rains and cool temperatures this morning and throughout the weekend will keep everybody out of the field for a while.
Outside markets are providing some support to grains this morning, as the US Dollar had a tough day yesterday, and is down again this morning. Remember, the stronger the US $ is compared to world currencies, the more expensive US-origin grain is for importing nations.
On the subject of export, the weekly export sales report for grain was released this morning, and corn and bean sales numbers for both old crop and new crop were disappointing, which may put a damper on today’s trade.
Have a great day!